ResMed Completes Medifox Dan Acquisition for €958.6 Million
ResMed has completed its acquisition of Medifox Dan, a German provider for software solutions for out-of-hospital care personnel, for €958.6 million. The company is headquartered in Hildesheim, Germany, with over 700 employees across 9 locations nationwide. It operates under its current brand within the ResMed SaaS business segment and specializes in the development of innovative software solutions and services for professional and non-professional care, therapeutic practices, and child, family, and youth welfare facilities. Some of the software Medifox Dan provides are care documentation, personnel planning, administration, and billing.
The acquisition expands ResMed’s SaaS business to its first non-United States market.
“We’re excited to have closed this important expansion of our SaaS business, and to officially welcome Medifox Dan to our ResMed SaaS team and global ResMed family,” said Mick Farrell, ResMed’s CEO. “Medifox Dan is a German leader in software innovation, united with the rest of ResMed in its mission to improve tens of millions of people’s lives through technology. Today, its strong offerings and dedicated staff expand ResMed’s out-of-hospital SaaS business into new health sectors, and to build on our strong ResMed healthcare business in Germany, the world’s second largest healthcare market in per capita spending.”
ResMed stated, in the press release announcing the acquisition completion, that it intends to retain Medifox Dan’s employees, locations, and business processes. Additionally, the company will report to ResMed SaaS president Bobby Ghoshal.
“Starting today, we are continuing our success story as part of the ResMed family,” said Dr. Thorsten Schliebe and Christian Städtler, Medifox Dan’s co-managing directors. “With ResMed, we have found an ideal partner — global leaders in digital health, cloud-based SaaS solutions with emphasis on innovation, data privacy and data security — with which we can continue to grow, develop, and provide our customers with secure, state-of-the-art software solutions and services, so they can navigate the challenges of their daily caregiving routines in the best possible way.”
The company first announced the signing of a definitive agreement in June 2022, capitalizing on Philips massive 3 to 4 million ventilator and sleep apnea device recall that left RedMed with “unlimited demand” for its sleep apnea machines.
It seems that Philips troubles have not slowed in the time since the initial recall. The FDA this month reported that the company has filed 21,000 medical device reports in connection with some of its ventilation and sleep apnea devices in the August through October 2022 period, but the administration noted that “the submission of an MDR itself is not evidence that the device caused or contributed to the adverse outcome or event.” However, only a few weeks ago, Philip’s also reported that reworked respirators from the 2021 recall have new potential issues.
Article source: MDDI