Resmed has agreed to sell its MatrixCare business in a $490m cash deal to PE firm Frazier Healthcare Partners, allowing it to dedicate its focus to its sleep health-related business interests.
The California-based company said the move reflects its 2030 strategy, which is focused on "high-growth, scalable opportunities" in sleep health, breathing health and connected home-based healthcare.
Resmed's key products are its AirSense range of continuous positive airway pressure (CPAP) machines and its AirFit range of CPAP masks.
The divestiture also strengthens Resmed's ability to reallocate capital and resources towards innovation, operational scale and long-term value creation across its connected, home-based care ecosystem, the company added.
The decision to sell MatrixCare, a software solution for healthcare providers (HCPs) across areas including skilled nursing, life plan communities, and senior living and private duty, comes just eight years after Resmed acquired the Minnesota-based company in 2018.
The California-based company said the move reflects its 2030 strategy, which is focused on "high-growth, scalable opportunities" in sleep health, breathing health and connected home-based healthcare.
Resmed's key products are its AirSense range of continuous positive airway pressure (CPAP) machines and its AirFit range of CPAP masks.
The divestiture also strengthens Resmed's ability to reallocate capital and resources towards innovation, operational scale and long-term value creation across its connected, home-based care ecosystem, the company added.
The decision to sell MatrixCare, a software solution for healthcare providers (HCPs) across areas including skilled nursing, life plan communities, and senior living and private duty, comes just eight years after Resmed acquired the Minnesota-based company in 2018.
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