Manufacturer of Connected Respiratory Devices ResMed has signed a final deal to acquire িফ 1 billion (€ 950 million) from software investor Hg to German software company Medifox Dan.
Medifox provides equipment for staff planning, billing, care documentation, and administration for Dan Nursing Home, Home Health Agency, and outpatient therapy providers. The acquisition is expected to close by the end of the year, subject to regulatory clearance.
The company will continue to operate as its own brand, and ResMed plans to retain its employees, management structure and positions. Dr. Thorsten Schliebe and Christian Stadler, Co-managing director of Medifax Dan, Be in their role and report to Bobby Ghoshal, ResMed’s software as a service (SaaS) president.
“We are seeing a greater adoption of digital solutions across Germany as its population continues to grow and severe staff shortages continue to challenge German care providers. Helps to ultimately improve patient outcomes, “Ghoshal said in a statement.
Why it matters
During a call with investors, CEO Mick Farrell said ResMed has so far focused its SaaS business in the United States, but not on the German environment for digital health and its The opportunity for revenge makes it an attractive market.
“We see this as a great opportunity to transform from just a US-centric SaaS business into a truly global business and expand our capacity to start with our second-largest market. And our largest market in Europe, which is Germany,” he said. .
This is far from the first acquisition of ResMed. The company acquired EHR Manufacturer MatrixCare in 2018 and Brightree, a post-acute software company in 2016, both still operate as their own brands. ResMed Digital Respiratory Health has also acquired Propeller Health.
Like the United States, Germany is conducting a Aging population and lack of healthcare workers, Farrell explained. The COVID-19 epidemic has also affected how people access healthcare.
“People just want to be aged in place. People want to be treated well at home,” he said. “… and Covid has accelerated that trend, both digital health adoption and out-of-hospital healthcare.”