- ResMed is now poised to provide a broader suite of solutions for
- Propeller Health will operate as a standalone business, maintaining
its COPD and asthma product solutions, as well as its partnerships
with pharmaceutical and healthcare organizations
SAN DIEGO--(BUSINESS WIRE)--
ResMed (NYSE:RMD) (ASX:RMD), a leader in cloud-connected medical
devices and out-of-hospital software-as-a-service (SaaS) business
solutions, today announced it has completed its acquisition of Propeller
Health, a digital therapeutics company providing connected health
solutions for people living with chronic obstructive pulmonary disease
(COPD) and asthma.
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Propeller will continue to operate as a standalone business out of its
Madison, Wisc., and San Francisco offices, working with leading
pharmaceutical partners and other healthcare organizations to provide
digital therapeutics and actionable insights to people who use inhalers,
helping improve their medication adherence, increase their number of
symptom-free days, and reduce emergency room visits.
"I'm excited to welcome Propeller, a fellow digital health innovator and
high-performing company, into the ResMed family," said ResMed CEO Mick
Farrell. "Propeller's digital solutions and partnerships strengthen
ResMed's larger suite of products that can treat millions of people at
various stages of their COPD and other chronic diseases, all aimed at
improving people's quality of life, while reducing the effects of these
diseases, hospitalizations, and the overall cost of healthcare."
Propeller will operate within ResMed's Respiratory Care portfolio;
Propeller CEO David Van Sickle remains in his role, reporting to ResMed
Respiratory Care President Richie McHale.
As ResMed first reported on December 3, 2018, the addition of
Propeller's business is expected to have a dilutive impact on ResMed's
non-GAAP earnings per share in the range of $0.01 to $0.02 per quarter
during the remainder of Fiscal Year 2019.
At ResMed (NYSE:RMD) (ASX:RMD) we pioneer innovative solutions that
treat and keep people out of the hospital, empowering them to live
healthier, higher-quality lives. Our cloud-connected medical devices
transform care for people with sleep apnea, COPD and other chronic
diseases. Our comprehensive out-of-hospital software platforms support
the professionals and caregivers who help people stay healthy in the
home or care setting of their choice. By enabling better care, we
improve quality of life, reduce the impact of chronic disease and lower
costs for consumers and healthcare systems in more than 120
countries. To learn more, visit ResMed.com and follow @ResMed.
About Propeller Health
Propeller Health is a leading digital therapeutics company dedicated to
the development and commercialization of measurably better medicines.
Propeller creates products to more effectively treat chronic respiratory
disease and improve clinical outcomes for patients through connectivity,
analytics, and companion digital experiences. The Propeller platform is
used by patients, physicians and healthcare organizations in the United
States, Europe and Asia. For more information, visit www.propellerhealth.com.
Statements contained in this news release that are not historical facts
are "forward-looking" statements as contemplated by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements - including statements regarding ResMed's projections of
future revenue or earnings, expenses, new product development, new
product launches and new markets for its products and the integration of
acquisitions - are subject to risks and uncertainties that could cause
actual results to materially differ from those projected or implied in
the forward-looking statements. Additional risks and uncertainties are
discussed in ResMed's periodic reports on file with the U.S. Securities
& Exchange Commission. ResMed does not undertake to update its
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