ResMed to Acquire Propeller Health, a Leader in COPD and Asthma Connected Health Solutions, for $225 Million
ResMed, a company that creates cloud-connected medical devices and out-of-hospital software-as-a-service (SaaS), today announced that it has entered a definitive agreement to acquire Propeller Health, a digital therapeutics company providing connected health solutions for people living with chronic obstructive pulmonary disease (COPD) and asthma.
Propeller Health was named a “2017 Most Innovative Company” by Fast Company. The company helps people and their doctors better manage their respiratory diseases by means of a small sensor that easily attaches to customers’ inhalers and pairs with a mobile app to automatically track medication use and provide personal feedback and insights. This clinically validated technology has demonstrated a 58 percent improvement in medication adherence, 48 percent increase in symptom-free days, and a 53 percent reduction in emergency room visits.
“ResMed shares our belief that connected health solutions create vastly better experiences and outcomes for people with chronic respiratory disease,” said Propeller Health Co-founder and CEO David Van Sickle. “Joining forces enables us to accelerate the adoption of Propeller’s solutions at a global scale, and serve as a very powerful platform for a broad set of pharmaceutical and healthcare partners.”
“Acquiring Propeller is a significant step for ResMed toward becoming the global leader in digital health for COPD,” said ResMed CEO Mick Farrell. “By working with Propeller’s existing partners to offer digital solutions for respiratory care pharmaceuticals and building on our proven ability to support digital solutions at scale, we can positively impact the loves of even more of the 380 million people worldwide who are living with this debilitating chronic disease.”
Under the agreement terms, ResMed will acquire Propeller for $225 million. ResMed and Propeller expect to finalize the deal before the end of the third quarter of ResMed’s fiscal year 2019 (March 30, 2019), subject to customary closing conditions, including regulatory approvals.