The companies did not disclose the details of the transaction, but Circadiance said they anticipate the deal to close by the end of the week.
The purchase will allow the company to expand its presence into the global pediatric respiratory market, Export, Penn.-based Circadiance said.
“Home infant cardiorespiratory monitoring is an established market dominated by SmartMonitor’s proven technology which offers at-risk infants a smooth transition from hospital to home. NeoPap represents the future of respiratory care in neonatal patients with respiratory distress syndrome. It’s an exciting combination that we intend to leverage with future innovation,” CEO David Groll said in prepared remarks.
Groll, who founded Circadiance in 2007, perviously worked in product development at Respironics before it was acquired by Philips in 2008 for $5 billion.
“With an expanded product portfolio, we enter the next phase of our company’s evolution, consistent with our mission to provide superior, cost effective outcomes to patients and their caregivers,” Groll said. “This transaction between 2 established respiratory companies combines trusted product lines for home care providers. As a company focused on respiratory care, Circadiance is well positioned to support the existing customers for these products and to expand distribution.”