LAS VEGAS, Jan. 6, 2017 /PRNewswire/ -- The world is
about to find out how well it really sleeps – and how to sleep
better – thanks to SleepScore Labs, a new company focused on
helping people understand and improve their sleep.
SleepScore Labs is a joint venture between renowned surgeon and
television host Dr. Mehmet Oz;
ResMed (NYSE:RMD), the global leader in medical devices and digital
connected care; and private equity firm Pegasus Capital Advisors,
L.P., which invests in companies focused on sustainability and
wellness.
The new venture combines ResMed's 28 years of leadership,
research and development in consumer and medical devices and
technologies for sleep monitoring, coaching and patient engagement
with Dr. Oz's consumer health and wellness audience to create a
pivotal player in the consumer sleep market, which is estimated to
be $80.8 billion by 2020.
SleepScore Labs' initial focus is to compile and analyze the
most comprehensive and accurate collection of consumer sleep data
on the planet, starting with its landmark national sleep study on
SleepScore.com. During today's panel discussion, "Confronting the
Sleep Epidemic Head-On" at the CES Digital Health Summit
(2:30pm ET/11:30am PT), Dr. Oz and ResMed will share
insights from more than one million nights of sleep data collected
to determine America's SleepScore.
Dr. Oz, a long-time advocate for the importance of sleep in
health and wellness, was compelled by ResMed's proven sleep
monitoring technology for consumers, the S+ by ResMed, and by the
company's commitment to helping people better understand their
sleep so they can lead more productive, healthier and happier
lives. The S+ is the world's first non-contact sleep tracker and
smartphone app. It uses bio-motion sensors to measure an
individual's sleep quality and bedroom environment, delivering
personalized feedback to help people track and improve their
sleep.
"I've learned in my time as a public health teacher, advocate,
television host and physician that the current standard of sleep
quality in America is drastically unacceptable," said Dr. Oz. "We
pay so much attention, especially at this time of year, to making
resolutions about diet and exercise. It's high time we pay more
attention to sleep."
"The statistics on sleep disorders are staggering," Dr. Oz said.
"More than 70 million Americans suffer from a sleep disorder.
Drowsy driving is responsible for thousands of fatal crashes a
year. The list goes on and on. ResMed has the technology to help us
measure, understand and educate people who are struggling with
sleep. We know if people have the right tools, they will be able to
improve their sleep and overall health. I believe in the importance
of this so much and am excited about this new venture and
partnering with ResMed to solve the epidemic of sleeplessness."
"When ResMed launched the S+ for consumer sleep monitoring, and
made 100 percent of our sleep devices cloud connected, we led the
market in the development of connected health tools," said
Mick Farrell, ResMed CEO. "We
introduced a new phase of sleep research and sleep understanding
that helps improve the health of millions of patients as well as
business efficiency for their healthcare providers. Our
conversations with Dr. Oz have confirmed the strong alignment
between our mission and his vision. With SleepScore Labs, we have
an opportunity to educate and inspire millions more to improve
their sleep."
SleepScore Labs will also license SleepScore by ResMed™
technology for other consumer sleep devices, to upgrade their
tracking capabilities and improve their products. The new venture
has already signed R&D contracts with several global leaders,
including LED powerhouse Lighting Science Group, which plans to
leverage SleepScore technology to quantitatively measure the
effectiveness of its GoodNight™ LED pre-sleep bulb.
"Diet, exercise and sleep are the pillars of our health," said
Colin Lawlor, CEO SleepScore Labs.
"For decades, people have measured their diet and exercise –
whether by counting calories or counting the number of steps they
take each day. In recent years, we've seen a lot more public focus
on the importance of sleep, but there hasn't been a widely
available, clinically proven standard for measuring sleep. That's
about to change. SleepScore will be the established standard for
how we measure and talk about sleep, and SleepScore by ResMed is
the proven technology to enable and drive the conversation."
Dr. Oz's role at SleepScore Labs will include:
- SleepScore Labs, brand ambassador and liaison to patients
- Board member and adviser, bringing his insight to future
products and programs
- Co-owner, making an equity investment in SleepScore Labs
Colin Lawlor is CEO of
SleepScore Labs. Previously, Lawlor was ResMed's vice president of
consumer programs, where he spearheaded the team that developed the
S+ and brought it to market.
ResMed is an equity partner. The company is licensing the
SleepScore by ResMed technology to SleepScore Labs to develop and
extend into additional products and relationships.
Pegasus Capital Advisors, L.P. is an equity partner. The
company brings expertise and experience in developing and scaling
business ventures, along with an influential network of global
leaders in the health and wellness arena.
SleepScore Labs will be based in Carlsbad, California.
About S+ by ResMed
For more information about the S+
by ResMed technology, refer to this fact sheet.
About the SleepScore Campaign
For more
information on the "One Million Nights" campaign to find out
America's SleepScore, visit www.sleepscore.com
About ResMed
ResMed (NYSE:RMD) changes lives with
award-winning medical devices and cutting-edge cloud-based software
applications that better diagnose, treat and manage sleep apnea,
chronic obstructive pulmonary disease (COPD) and other chronic
diseases. ResMed is a global leader in connected care, with more
than 2 million patients remotely monitored every day. Our
5,000-strong team is committed to creating the world's best
tech-driven medical device company – improving quality of life,
reducing the impact of chronic disease, and saving health care
costs in more than 100 countries.
ResMed.com | Facebook | Twitter | LinkedIn
About Pegasus Capital Advisors, L.P.
Pegasus Capital
Advisors, L.P. is a private equity firm founded and led by
Craig Cogut. Since inception in
1996, Pegasus has invested across five private equity funds and
currently manages approximately $1.7
billion in assets. The Firm's principal investment theme is
providing strategic growth capital to companies within the
middle-market focused on sustainability and wellness.
Caution Concerning Forward-Looking Statements:
This
communication contains "forward-looking" statements as that term is
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
by the Private Securities Litigation Reform Act of 1995. All
statements, other than historical facts, including but not limited
to statements regarding the benefits of the anticipated joint
venture, the efficacy of the S+ device, the SleepScore Labs sleep
database and position of SleepScore Labs in the marketplace, and
any assumptions underlying any of the foregoing, are
forward-looking statements.
Forward-looking statements concern future circumstances and
results and other statements that are not historical facts and are
sometimes identified by the words "may," "will," "should,"
"potential," "intend," "expect," "endeavor," "seek," "anticipate,"
"estimate," "overestimate," "underestimate," "believe," "could,"
"project," "predict," "continue," "target" or other similar words
or expressions. Forward-looking statements are based
upon current plans, estimates and expectations that are subject to
known and unknown risks, uncertainties and assumptions.
Should one or more of these known or unknown risks or uncertainties
materialize, or should any of the underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. The
inclusion of such statements should not be regarded as a
representation that such plans, estimates or expectations will be
achieved. You are urged to consider all risks, uncertainties
and other factors carefully in evaluating any forward-looking
statements contained in this communication.
Contacts:
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ResMed
(media)
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ResMed
(investors)
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Dr.
Oz
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SleepScore
Labs
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Alison
Graves
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Agnes Lee
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Tim
Sullivan
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Nick
Shepherd
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858-836-6789
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858-836-5971
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732.816.0239
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619.865.1020
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news@resmed.com
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investorrelations@resmed.com
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t3shamrock@gmail.com
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nick@brewpr.com
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SOURCE ResMed Inc.