Asahi Kasei unit ZOLL Medical has entered a definitive agreement to acquire medical device and digital health company Itamar Medical for nearly $538m.
Itamar Medical develops and commercialises non-invasive medical devices and solutions to help diagnose respiratory sleep disorders.
The company developed the WatchPAT Home Sleep Apnea Device for the diagnosis of sleep apnea. WatchPAT is cleared by the US Food and Drug Administration for use as a home-based testing solution for the sleep disorder.
According to research findings, complex connections exist between cardiovascular disease and obstructive sleep apnea (OSA) as well as central sleep apnea (CSA), ZOLL Medical noted.
OSA is linked to higher occurrence and progression of coronary heart disease, heart failure, stroke and atrial fibrillation.
Meanwhile, CSA related to Cheyne-Stokes respiration forecasts incident heart failure and atrial fibrillation. It is also said to significantly predict mortality among heart failure patients.
ZOLL Medical expects the acquisition of Itamar Medical and associated home sleep apnea diagnosis solutions to boost its offerings for cardiac patients who are not diagnosed or treated.
ZOLL Medical CEO Jon Rennert said: “It is currently estimated that 60% of cardiovascular patients suffer from some form of sleep apnea, and the majority of these patients go undiagnosed.
“The combination of ZOLL Medical and Itamar Medical will help more patients receive diagnosis and treatment for sleep-disordered breathing.”
ZOLL Medical focuses on medical devices and software solutions for emergency care.
Its portfolio includes products for defibrillation and cardiac monitoring, circulation enhancement and CPR feedback, among other indications.
Itamar Medical president and CEO Gilad Glick said: “The integration of Itamar’s WatchPAT technology and Digital Health solution for sleep apnea with ZOLL Medical’s commercial footprint will accelerate our mission of advancing home sleep medicine to benefit the population of undiagnosed and untreated patients.”
Subject to necessary approvals and customary closing conditions, the acquisition is expected to complete by the end of this year.
Following closing, Itamar Medical’s primary operations will continue at its existing location in Caesarea, Israel.
In 2019, Zoll Medical acquired Cardiac Science, a provider of automated external defibrillators and other devices.