ResMed, one of global leaders in sleep technology, has announced its €958.6 million ($997.5 million) buyout of Germany-based home health software provider Medifox Dan.
This is ResMed’s first investment in a software-as-a-service business in Europe. Medifox supports out-of-hospital providers with care documentation, personnel planning, administration and billing, and has slotted into ResMed’s SaaS business segment.
The takeover has given ResMed control of a 700-person operation in Germany that offers similar solutions to its existing US brands like MatrixCare and Brightree.
According to ResMed’s senior officials, its core sleep and respiratory care business is vertically integrated in Germany and the government is also investing in digital health reimbursement, which makes it the perfect starting point for its global SaaS expansion.
The SaaS business in the region is currently growing in the high single digits, with sales increasing 9% in the most recent quarter. ResMed sees these opportunities to innovate and grow in lower-cost, lower-acuity care settings while expecting the business to maintain high single-digit growth throughout the fiscal year 2023.
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