- ResMed Inc RMD has agreed to acquire privately-held MEDIFOX DAN, a Germany-based provider of out-of-hospital software solutions, from Hg, a software and services investor.
- MEDIFOX DAN's clinical, financial, and operational solutions are similar to ResMed's U.S. SaaS brands, MatrixCare and Brightree.
- MEDIFOX DAN's German customer base is complementary to the customers of ResMed's U.S.-based SaaS business.
- Related: ResMed's Q3 Earnings Short Of Expectations, Profit Margins Contract.
- The acquisition of MEDIFOX DAN builds on ResMed's existing business in Germany as a provider of cloud-connected medical devices for patients with sleep apnea and other respiratory conditions.
- ResMed will acquire MEDIFOX DAN for approximately $1.0 billion (€950 million), which ResMed expects to fund with its existing credit facilities.
- In 2021, MEDIFOX DAN's pro forma net revenue was approximately $83 million, with a pro forma adjusted EBITDA of approximately $35 million.
- The transaction is expected to be accretive to ResMed's non-GAAP EPS.
- ResMed will retain MEDIFOX DAN's employees, management structure, locations, and business processes. MEDIFOX DAN co-Managing Directors Thorsten Schliebe and Christian Städtler will continue in their current roles, reporting to ResMed SaaS President Bobby Ghoshal.
- Price Action: RMD shares closed at $202.39 on Monday.
- Photo by Capri23auto from Pixabay
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