ResMed has signed a definitive agreement to acquire Curative Medical, a privately-held provider of non-invasive ventilation and sleep-disordered breathing medical devices and accessories.
“Curative’s strong clinical, innovation and market reputation in China, combined with ResMed’s global leadership in sleep and respiratory medicine, will help many millions of people in China suffering from sleep-disordered breathing and chronic obstructive pulmonary disease,” says Mick Farrell, CEO of ResMed, in a release. “By partnering with Curative we will jointly invest to accelerate our growth while improving patient quality-of-life and reducing total healthcare system costs in China. This is all part of our global goal of improving 20 million lives by 2020.”
On completion of the transaction, ResMed China and Curative Medical will retain their operational independence and continue to invest in R&D, manufacturing, marketing, and sales teams in China. Curative will maintain its name, brands, and innovative offerings tailored for the Chinese market and other global markets. Curative’s vascular catheter business is not included in the transaction. Curative employees, including the founder and CEO, Jason Sun, will continue as members of the combined ResMed and Curative team.
“We are very happy to join with ResMed to help even more people who suffer from sleep-disordered breathing or chronic respiratory diseases,” Sun says.
Financial terms of the transaction were not disclosed. The acquisition is subject to customary closing conditions and is expected to close before the end of calendar year 2015.
