Thursday, July 06, 2023
ResMed, a prominent provider of sleep and respiratory care solutions, has announced its acquisition of Somnoware, a leading company specializing in diagnostic software for sleep and respiratory care. This strategic move allows ResMed to enhance its digital capabilities in the diagnosis and treatment of sleep disorders and chronic respiratory diseases.
Somnoware's software platform is designed to streamline processes for physicians, sleep labs, and pulmonary function testing labs. Its features include facilitating the diagnosis and evaluation of sleep and respiratory care test results, managing appointments, monitoring PAP compliance, and seamlessly integrating data into patients' electronic health records. By integrating Somnoware's advanced technology into its ecosystem, ResMed aims to improve efficiency and ultimately enhance patient outcomes.
Lucile Blaise, President of ResMed's Sleep & Respiratory Care division, expressed enthusiasm for the acquisition, emphasizing the shared goal of expanding access to Somnoware's open and interoperable platform. The aim is to assist more individuals with obstructive sleep apnea (OSA) or chronic obstructive pulmonary disease (COPD) in obtaining accurate diagnoses and effective treatment solutions. ResMed seeks to improve the patient experience and overall health outcomes through this collaboration.
Bill Shoop, General Manager of ResMed North America, highlighted the synergies between Somnoware's offerings and ResMed's existing digital solutions. By integrating Somnoware into ResMed's portfolio, the company can better support physicians, sleep labs, and home medical equipment providers (HMEs) in delivering efficient and superior patient care.
Somnoware's Co-founder and CEO, Subath Kamalasan, expressed excitement about the acquisition and the joint mission of ResMed and Somnoware to improve sleep and respiratory care. The partnership aims to drive innovation and develop solutions that address sleep disorders and chronic respiratory diseases, ultimately benefiting patients' health.
ResMed plans to retain all staff from Somnoware and uphold the open and device-agnostic nature of its offerings. This approach ensures compatibility with various testing solutions and allows end-users to continue accessing treatment devices and accessories from their preferred suppliers.
Financial details of the acquisition were not disclosed, and the transaction's impact on ResMed's consolidated financial results is not considered material. Somnoware engaged Ziegler as its financial advisor, with King & Spalding LLP serving as its legal advisor, while DLA Piper provided legal advice to ResMed.
With the acquisition of Somnoware, ResMed strengthens its position as a leader in sleep and respiratory care, leveraging advanced technology to provide innovative solutions that enhance patient care and outcomes.