Financial and other terms and conditions of the acquisition were not announced. ResMed said the acquisition of the oxygen therapy-focused company would aid in its focus on treating chronic obstructive pulmonary disease.
“We are excited to complete this acquisition, which expands our offerings and solutions to address a global COPD epidemic impacting tens of millions of people. This acquisition is an important step to reach our goal of improving 20 million lives by 2020,” CEO Mick Farrell said in prepared remarks.
The acquisition of Austin, Texas-based Inova Labs adds the LifeChoice Activox portable oxygen concentrator and Activox Duo2 fully-integrated oxygen concentrator system to ResMed’s portfolio of products, the company said.
Last October, ResMed closed its purchase of non-invasive sleep-disorder breathing and ventilation device maker Curative Medical for an undisclosed amount.
San Diego, Calif.-based ResMed said Curative Medical will remain independent under its CEO Jason Sun with its own R&D, manufacturing, marketing and sales focused on the Chinese market in different customer segments than ResMed.