SAN DIEGO, Jan. 11, 2016 /PRNewswire/ -- ResMed (NYSE:RMD),
the world's leading innovator in sleep-disordered breathing and
respiratory care, today announced it has entered into a definitive
agreement to acquire Inova Labs Inc., a privately-held medical
device company specializing in the development and
commercialization of innovative oxygen therapy products. Oxygen
therapy is the largest non-drug delivery medical device segment for
the treatment of COPD.
"COPD is the third leading cause of death in the United States and, sadly, the disease is
on its way to achieving the same ranking globally," said
Mick Farrell, CEO of ResMed. "We are
excited to expand our offerings and solutions for the global COPD
epidemic and to progress even more swiftly toward our ResMed goal
of improving 20 million lives by 2020. With the acquisition of
Inova Labs, ResMed is delivering on
its commitment to find further ways to improve the quality of life
for tens of millions of people as they deal with COPD, this
chronic, progressive disease that literally takes patients' breath
away when untreated."
ResMed's current respiratory care offerings include
world-leading patient interface products, the AirCurve 10 series of
cloud-connected non-invasive ventilators, the Stellar™ series of
non-invasive ventilators, and the flagship Astral™ series, ResMed's
award-winning lightweight non-invasive life support platform, with
internal and external batteries that provide up to 24-hours of
freedom for patients.
With the acquisition of Austin,
Texas-based Inova Labs,
ResMed's respiratory care portfolio encompasses both innovative
portable oxygen concentrators as well as the necessary stationary
options for the home. Key products include:
- LifeChoice Activox – lightweight, portable oxygen concentrators
that lead the industry in offering extended battery life for
freedom and mobility.
- Activox DUO2 – the industry's first fully-integrated stationary
and portable oxygen concentrator system.
"ResMed is the global leader in connected healthcare solutions
for sleep and respiratory conditions," said John Rush, CEO, Inova
Labs. "That's a perfect fit with our mission to offer oxygen
therapy solutions that empower individuals to stay active and sleep
well. We are excited about joining forces with ResMed and
benefiting from their global expertise and innovative culture, to
improve patient engagement and adherence to treatment, to create
business efficiencies for home medical equipment providers, and to
help enhance the quality of life for those suffering from COPD and
other chronic respiratory conditions."
The financial terms of the transaction were not disclosed. This
transaction is subject to customary closing conditions, including
regulatory approvals.
About ResMed
The global team at ResMed (NYSE:RMD) is
united in the commitment to change millions of lives with every
breath. With more than 4,000 employees and a presence in over 100
countries, the company has pioneered innovative devices for the
diagnosis, treatment and management of sleep-disordered breathing,
chronic obstructive pulmonary disease and other chronic conditions
for more than 25 years. ResMed's world-leading products and
connected healthcare solutions improve the quality of life for
millions of patients worldwide, reduce the impact of chronic
disease, and save healthcare costs. For more information about
ResMed and its businesses, visit www.resmed.com or follow
@resmed on Twitter and Facebook.
ResMed
Contacts:
|
For News
Media
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For
Investors
|
Colleen
Powell-Lewis
|
Agnes Lee
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Global Corporate
Communications
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Senior Director,
Investor Relations
|
O: +1.
858-836-6731
|
O: +1.
858-836-5971
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news@resmed.com
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investorrelations@resmed.com
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SOURCE ResMed Inc.