Resmed
(NYSE: RMD)
announced today that it acquired VirtuOx, a leading independent diagnostic testing facility (IDTF).
VirtuOx provides diagnostic services for sleep, respiratory and cardiac conditions. San Diego-based Resmed, a leader in sleep apnea therapy and digital offerings, says the acquisition reflects its commitment to making care more accessible, more coordinated and more patient-friendly.
According to a news release, VirtuOx’s at-home diagnostic services position Resmed to better support patients earlier in their journey. It also helps healthcare providers and home care companies deliver care in a simpler, more connected way.
Resmed declined to disclose the financial terms of the acquisition. It’s not material to the company’s financial results. It marks another acquisition in the digital space for Resmed, which bought Medifox Dan for $1 billion in November 2022 and acquired respiratory care diagnostics software developer Somnoware in mid-2023.
VirtuOx’s virtual testing platform helps reduce barriers to diagnosis, Resmed says. It offers fast, flexible and affordable options for patients. The platform particularly aids those with often underdiagnosed sleep-disordered breathing or other conditions.
Resmed says it could give those suspected of having obstructive sleep apnea (OSA) a more streamlined, digital-first experience. That could make the difference between following through on testing and treatment, or falling out of the care pathway entirely.
“This is about creating a simpler, more connected pathway to care,” said Justin Leong, Chief Product Officer at Resmed. “By integrating VirtuOx’s diagnostic capabilities into our ecosystem, we can help accelerate the time between evaluation and treatment, reduce drop-off, and help more people access the life-changing benefits of therapy for sleep apnea and related conditions.”
More about the Resmed acquisition of VirtuOx
Resmed says the deal strengthens its ability to partner with healthcare providers to help streamline the diagnostic process. It could also help alleviate current bottlenecks while expanding collaboration with home medical equipment providers.
According to Resmed, the addition of VirtuOx can efficiently and expeditiously support patients to start treatment. It further enhances the company’s ability to serve healthcare providers with integrated tools to improve care coordination, patient engagement and outcomes.
With the acquisition, VirtuOx will operate as a fully owned subsidiary of Resmed, continuing to serve partners and patients under its existing brand in the near term. Its leadership team will remain in place and continue to drive growth and innovation strategy.
“VirtuOx and Resmed are aligned in our focus to simplify healthcare and expand access,” said Steve Lica, CEO of VirtuOx. “Joining Resmed gives us the opportunity to scale our impact, reach and help more patients, and keep innovating on behalf of the providers and health systems we serve.”
