ResMed has completed its $750 million acquisition of Minnesota-based MatrixCare, which provides software solutions for more than 15,000 providers across skilled nursing, life plan communities, senior living, and private duty.
These care settings are complementary to ResMed’s other software as a service (SaaS) offerings in home medical equipment, home health and hospice, delivered through Brightree and HEALTHCAREfirst, acquired by ResMed in April 2016 and July 2018, respectively. ResMed will drive an integrated ecosystem of solutions across these platforms to maintain single-patient records across multiple care settings, generate analytics and insights that can be applied to individuals and whole populations, and streamline processes across the care continuum.
“We’re all excited to have quickly closed this important deal and can officially welcome MatrixCare to the ResMed family,” says ResMed CEO Mick Farrell, in a release. “ResMed is the world’s top tech-driven medical device company, and we are well on our way to being the top provider of out-of-hospital software. It all fits into our mission of changing millions of people’s lives, whether it’s by treating and preventing the advance of chronic disease or helping someone easily navigate out-of-hospital healthcare settings so they and their loved ones can live their best life.”
MatrixCare will continue to operate as a standalone business within ResMed’s SaaS portfolio, with targeted commercial, technical, and operating links to ResMed and Brightree. There will be no immediate changes to management, locations, or business processes. MatrixCare CEO John Damgaard continues in his current role, reporting to ResMed SaaS president Raj Sodhi.
The final $750 million purchase price is subject to certain adjustments as set forth in the merger agreement.