ResMed (NYSE:RMD) said yesterday that it completed its $225 million acquisition of Propeller Health and its digital medicine platform.
Lead by CEO David Van Sickle, Propeller will continue to operate as a standalone business within ResMed’s respiratory care portfolio, the companies reported.
ResMed first announced the deal in December, explaining that Propeller’s products for people with chronic obstructive pulmonary disease complement its suite of cloud-connected ventilators and establish the company as a leader in digital health solutions for COPD.
The addition of Propeller’s business is slated to have a dilutive impact on ResMed’s non-GAAP EPS of 1¢ to 2¢ per quarter during FY19, according to ResMed.
“I’m excited to welcome Propeller, a fellow digital health innovator and high-performing company, into the ResMed family,” ResMed CEO Mick Farrell said in prepared remarks.
“Propeller’s digital solutions and partnerships strengthen ResMed’s larger suite of products that can treat millions of people at various stages of their COPD and other chronic diseases, all aimed at improving people’s quality of life, while reducing the effects of these diseases, hospitalizations, and the overall cost of healthcare,” Farrell added.
