Medical devices developer ResMed has closed the acquisition of digital therapeutics firm Propeller Health for a total consideration of $225m.
Propeller Health offers connected health solutions for patients with chronic obstructive pulmonary disease (COPD) and asthma.
Its portfolio comprises a digital platform with sensors that stick to consumers’ inhalers and pair with a mobile application. These sensors automatically track medication use and offer personalised feedback.
The deal, which was signed last month, is part of ResMed plan to broaden its range of COPD treatment solutions.
ResMed CEO Mick Farrell said: “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, hospitalisations, and the overall cost of healthcare.”
Following the closing of the transaction, Propeller will operate as a standalone entity within ResMed’s Respiratory Care portfolio.
Propeller CEO David Van Sickle will retain his role and report to ResMed Respiratory Care president Richie McHale.
Propeller will continue to partner with pharmaceutical companies and other healthcare organisations to deliver digital therapeutics and actionable insights for people using inhalers.
The company aims to improve patients’ medication adherence, increase their number of symptom-free days and mitigate emergency room visits. Propeller expects the deal to aid in the broader use of its solutions.
Sickle said: “Joining forces enables us to accelerate the adoption of Propeller’s solutions at a global scale, and serve as a powerful platform for a broad set of pharmaceutical and healthcare partners.”