ResMed to pay $750m for MatrixCare

ResMed (NYSE:RMD) said today that it agreed to pay $750 million to acquire MatrixCare and its post-acute-care software. The San Diego-based respiratory care giant said it plans to fund the buyout, which represents a 25x EBITDA multiple, using its credit facility. Bloomington, Minn.-based MatrixCare put up sales of $122 million last year, ResMed said. “The acquisition of MatrixCare is an excellent addition to the out-of-hospital software portfolio that we can offer our healthcare provider customers,” CEO Mick Farrell. “ResMed is the world’s leading tech-driven medical device company and is well positioned to be the leading out-of-hospital software provider in the market. With our portfolio including Brightree, HealthcareFirst and MatrixCare, we will streamline transitions of care, creating better outcomes for patients, caregivers, and out-of-hospital healthcare providers.” “By establishing a technology footprint across these major care settings, ResMed will drive an integrated ecosystem of solutions, such as maintaining single-patient records across multiple care settings, generating analytics and insights that can be applied to individuals and whole populations, and streamlining processes for healthcare providers across the care continuum,” added ResMed software-as-a-service president Raj Sodhi. “We’re thrilled to be part of a global healthcare leader that shares our mission, leveraging technology to improve the qualit...
Source: Mass Device - Category: Medical Devices Authors: Tags: Featured Mergers & Acquisitions Respiratory Software / IT MatrixCare ResMed Inc. Source Type: news