ResMed (NYSE:RMD) said today it inked a deal to acquire healthcare software developer HealthcareFirst for an undisclosed amount.
The soon-to-be acquired company develops software and services for both home health and hospice agencies, San Diego-based ResMed said. Offerings include electronic health record software, billing and coding services and advanced analytics for home and hospice settings.
“Joining ResMed, with their purpose of changing lives with every breath, is an exciting opportunity for our HealthcareFirst team, as our joint mission is linked to improving quality of life for patients in out-of-hospital healthcare. We believe our combined resources and investment capabilities will make an even more impactful improvement on the patient experience and our customers’ business outcomes at a time when they’re under increased reimbursement and regulatory pressures,” HealthcareFirst prez & CEO J. Porter said in a prepared statement.
ResMed said the acquisition will compliment its existing software solutions provided by Brightree, which it acquired in 2016. The company said that the acquisition will be immaterial to its financial results and that it expects to close the purchase before the end of the first quarter of its 2019 fiscal year on September 30.
“The home health and hospice segments are large and growing fast, due to the rising prevalence of chronic conditions and an aging population shifting to homecare and other lower-cost care settings. HealthcareFirst’s solutions suite enables ResMed to help efficiently and effectively manage this growing population, benefiting patients, their families, agencies and payers,” ResMed SaaS biz prz Raj Sodhi said in a press release.
Earlier this month, ResMed released data from two clinical analyses exploring combined home oxygen therapy and non-invasive ventilation therapy for patients with persistent hypercapnia following a life-threatening exacerbation of chronic obstructive pulmonary disorder, touting an increase in cost efficiency with the combined therapy.
