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ResMed Announces $800 Million Acquisition Of Brightree, Notes Transaction Adds To Its Global Leadership Position

Jayson Derrick

ResMed Inc. (NYSE: RMD), a provider of treatment for sleep-disordered breathing, announced on Monday it has agreed to acquire Brightree, a leader in business management and clinical software applications for the post-acute care industry.

As part of the agreement, ResMed will pay $800 million to acquire the company which represents a multiple of 13.5 times Brightree's 2015 EBITDA. The acquisition will be funded primarily with debt.

ResMed noted that the acquisition will be accretive to its gross margins and non-GAAP diluted earnings per share. In addition, the transaction adds to the company's "global leadership in connected healthcare solutions."

"This acquisition furthers ResMed's position as the leading tech-driven medical device company and gives our customers new tools to help them increase operational efficiency and improve cash-flow while delivering best-in-class patient care," said Mick Farrell, CEO of ResMed. "ResMed is already the recognized global leader in remote patient monitoring and connected healthcare solutions. This acquisition will enable us to add to our portfolio of digital solutions to drive operational excellence and improve outcomes for patients, providers and payers."

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