ResMed (NYSE:RMD) said today that it inked a deal to acquire Propeller Health and its digital medicine platform for $225 million in cash.
Propeller Health, which sells small sensors that attach to inhalers and track medication use, will operate as a standalone business under ResMed’s respiratory care portfolio.
ResMed reported that Propeller’s products for people with chronic obstructive pulmonary disease complement its suite of cloud-connected ventilators and help to position the company as a leader in digital health for COPD.
“By working with Propeller’s existing partners to offer digital solutions for respiratory care pharmaceuticals and building on our proven ability to support digital solutions at scale, we can positively impact the lives of even more of the 380 million people worldwide who are living with this debilitating chronic disease,” ResMed CEO Mick Farrell said in prepared remarks.
“Helping inhaler users improve adherence and avoid hospitalizations perfectly serves ResMed’s mission: to improve people’s quality of life, reduce the impact of chronic disease and save healthcare costs across the out-of-hospital care spectrum,” Richie McHale, president of ResMed’s respiratory care unit, added.
“ResMed shares our belief that connected health solutions create vastly better experiences and outcomes for people with chronic respiratory disease,” Propeller co-founder & CEO David Van Sickle said. “Joining forces enables us to accelerate the adoption of Propeller’s solutions at a global scale, and serve as a powerful platform for a broad set of pharmaceutical and healthcare partners.”
