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Tuesday 11

December, 2018 3:40 PM

ResMed to spend $US225 on asthma tech

ResMed to spend $US225 on asthma tech

Dual-listed sleep device manufacturer ResMed is spending $US225 million on asthma and pulmonary specialist Propeller Health.

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By AAP 04.12.2018 09:41 AM

Dual-listed ResMed has announced its second major digital acquisition in a month, with the sleep device manufacturer to spend $US225 million ($A306 million) on asthma and pulmonary specialist Propeller Health.

ResMed, which paid $US750 million for health software provider MatrixCare in November, will allow the Wisconsin-based Propellor Health to operate as a stand alone business as part of its new parent's ResMed's Respiratory Care portfolio.

Propeller's digital medicine platform consists of small sensors that attach to consumers' asthma inhaler and pair with a mobile app to automatically track medication use and provide feedback and insights.

"By working with Propeller's existing partners ... we can positively impact the lives of even more of the 380 million people worldwide who are living with this debilitating chronic disease," said ResMed chief executive Mick Farrell.

ResMed said it will fund the acquisition via its credit facility, with a deal to be completed by April 2019.

ResMed shares were trading at $15.32 before trade opened on Monday, up 35 per cent from $11 a year ago.

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