ResMed acquires German software company

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SAN DIEGO – ResMed announced its intention to acquire MEDIFOX DAN, a Hildesheim, Germany-based leader in out-of-hospital software solutions for providers in key continuum of care settings, from Hg, a leading investor in software and services, for approximately $1 billion.

Like the U.S. SaaS brands of ResMed, MatrixCare and Brightree, MEDIFOX DAN’s clinical, financial and operational solutions are essential for out-of-hospital care providers in care documentation, staff planning, administration , billing, etc., says ResMed.

“With the acquisition of MEDIFOX DAN, we will expand ResMed’s portfolio of SaaS businesses outside of our current base in the US market and strengthen our position as a global leader in healthcare software solutions for cost-effective care and less acute,” said Mick Farrell. , CEO of ResMed. “We are delighted to welcome the MEDIFOX DAN team to our global ResMed family: our management cultures are strongly aligned with a laser focus on reducing costs, improving outcomes and changing the course of disease management. chronicles. MEDIFOX DAN has a strong track record of innovation, fully aligned with our teams at Brightree, MatrixCare and beyond. MEDIFOX DAN’s customer focus has created continued strong demand for its software solutions throughout Germany, and we expect this momentum to continue and strengthen as we become a global team. Our MEDIFOX DAN and ResMed teams are united with the same global mission: to help hundreds of millions of people live healthier lives outside of the hospital, and preferably at home.

ResMed expects MEDIFOX DAN to operate under its current brand within the ResMed SaaS business, such as MatrixCare and Brightree. It intends to retain the 600 employees, management structure, sites and business processes of MEDIFOX DAN. MEDIFOX DAN Co-Chief Executive Officers Dr. Thorsten Schliebe and Christian Städtler will continue in their current roles and report to ResMed SaaS President Bobby Ghoshal.

Under the terms of the agreement, ResMed expects to finance the acquisition with its existing credit facilities. In calendar year 2021, MEDIFOX DAN’s pro forma net revenue was approximately $83 million, with pro forma adjusted EBITDA of approximately $35 million.

The transaction is expected to close by the end of ResMed’s second quarter of fiscal 2023 (December 31, 2022), subject to regulatory approvals, and is expected to be accretive to its post-closing non-GAAP diluted earnings per share.

ResMed bought Brightree in 2016. It bought MatrixCare in 2018.

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