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Propeller Health's $225M exit means Safeguard will net $41M

Michelle Caffrey
Propeller Health's $225M exit means Safeguard will net $41M

Safeguard Scientifics (NYSE: SFE) will receive $41.4 million after portfolio company Propeller Health announced Monday it has agreed to be acquired by digital health firm ResMed (NYSE: RMD) for $225 million in cash. The Radnor-based investment firm, which is currently winding down operations, owns 20 percent of Propeller after investing $14.3 million in 2014. The Propeller product will add to San Diego-based ResMed’s current offerings of “smart” respiratory devices, which are connected to cloud-based servers to allow for remote monitoring, tracking and analysis.