ResMed
(NYSE: RMD)
announced that it acquired respiratory care diagnostics software developer Somnoware.
This move marks the second software buy in the past year for ResMed. The San Diego-based sleep respiratory treatment maker bought Medifox Dan for $1 billion in November 2022. Medifox Dan develops clinical, financial and operational software for out-of-hospital care providers. It offers care documentation, personnel planning, administration and billing, among other things.
ResMed declined to disclose the financial terms of the transaction. The company said the terms remain immaterial to its consolidated financial results.
Somnoware designed its software to streamline the processes of physicians and sleep and pulmonary function testing labs as they diagnose and evaluate sleep and respiratory care test results. Through the platform, positive airway pressure (PAP) therapy can run more efficiently.
It enables streamlined ordering of PAP treatment equipment, setting up appointments and tracking PAP compliance. The software then electronically provides this information directly into a patient’s electronic health record.
More about ResMed’s acquisition of Somnoware
Lucile Blaise, ResMed sleep & respiratory care president, said the acquisition reflects ResMed’s commitment to driving wider adoption of Somnoware’s platform. She said it helps people with obstructive sleep apnea or chronic obstructive pulmonary disease get diagnoses and treatments.
“We are very excited about this acquisition,” said ResMed North America GM Bill Shoop. “Somnoware’s offering has been well received in the marketplace, and it naturally complements our ecosystem of digital solutions across the patient care pathway. Our team is excited to add Somnoware to our portfolio of solutions to help physicians, sleep labs, and HMEs drive greater efficiency and deliver better patient care.”
ResMed plans to retain all Somnoware staff and integrate its offerings into the ResMed brand and solution ecosystem. The company intends to maintain the open and device-agnostic nature of Somnoware’s offerings. It said this enables end users to keep interoperating with various testing solutions. They can also place orders for treatment devices and accessories from any supplier.
Somnoware co-founder and CEO Subath Kamalasan said the companies remain committed to improving patient health. He noted that they look to drive innovation and deliver solutions in treating sleep disorders and other chronic respiratory diseases.
“I’m thrilled to join forces with ResMed and embark on a shared mission of guiding people toward better sleep and improved breathing,” Kamalasan said. “Our partnership will open new avenues to help physicians with the critical task of chronic care management.”
