A company that specializes in connected devices and remote monitoring for sleep apnea and respiratory illnesses has agreed to buy the post-acute care EHR MatrixCare for $750 million.
San Diego-based ResMed announced the purchase on Monday morning, noting that MatrixCare's focus on skilled nursing facilities and long-term care providers is “complementary” to the company’s current offerings software offerings for medical equipment, home health and hospice.
MatrixCare currently serves more than 15,000 post-acute providers. ResMed has manufactured more than 6 million cloud-connected remote monitoring devices.
ResMed CEO Mick Farrell said the acquisition adds to the company’s growing portfolio of post-acute software services and will help “streamline transitions of care.”
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“By establishing a technology footprint across these major care settings, ResMed will drive an integrated ecosystem of solutions, such as maintaining single-patient records across multiple care settings, generating analytics and insights that can be applied to individuals and whole populations, and streamlining processes for healthcare providers across the care continuum,” said ResMed SaaS President Raj Sodhi in a statement.
The transaction is expected to close by the end of the second quarter in 2019. MatrixCare will continue to operate as a standalone business and retain its CEO John Damgaard.