CA-RESMED
3.12.2018 15:07:06 CET | Business Wire | Press release
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 entered a definitive agreement to acquire Propeller Health, a digital therapeutics company providing connected health solutions for people living with chronic obstructive pulmonary disease (COPD) and asthma.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181203005218/en/
Named a “2017 Most Innovative Company” by Fast Company, Propeller helps people and their doctors better manage their COPD and asthma. Propeller’s digital medicine platform consists of small sensors that easily attach to consumers’ inhalers and pair with a mobile app to automatically track medication use and provide personal feedback and insights. Propeller’s clinically validated solutions have demonstrated a 58 percent improvement in medication adherence, 48 percent increase in symptom-free days and 53 percent reduction in emergency room visits.
Propeller’s ability to support people in stage II and III severity levels of their COPD are complementary to ResMed’s own suite of cloud-connected ventilators for those with stage III and IV COPD, including Astral, Stellar and AirCurve 10 ST-A with iVAPS – plus ResMed’s new portable oxygen concentrator Mobi.
“Acquiring Propeller is a significant step for ResMed toward becoming the global leader in digital health for COPD," said ResMed CEO Mick Farrell. “By working with Propeller’s existing partners to offer digital solutions for respiratory care pharmaceuticals and building on our proven ability to support digital solutions at scale, we can positively impact the lives of even more of the 380 million people worldwide who are living with this debilitating chronic disease.”
“Helping inhaler users improve adherence and avoid hospitalizations perfectly serves ResMed’s mission: to improve people’s quality of life, reduce the impact of chronic disease and save healthcare costs across the out-of-hospital care spectrum,” said ResMed Respiratory Care President Richie McHale.
“ResMed shares our belief that connected health solutions create vastly better experiences and outcomes for people with chronic respiratory disease,” said David Van Sickle, co-founder and CEO of Propeller. “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.”
Propeller is privately funded, and based in Madison, Wisconsin, with an office in San Francisco. It will continue to operate as a standalone business within ResMed’s Respiratory Care portfolio. There will be no immediate changes to management, locations or business processes. Van Sickle will continue in his current role, now reporting to McHale.
Terms of the transaction
Under the agreement terms, ResMed will acquire Propeller for $225 million, which ResMed will fund primarily with its credit facility. Upon closing, the transaction is expected to have a dilutive impact on ResMed’s quarterly non-GAAP earnings per share in the range of $0.01 to $0.02 during Fiscal Year 2019.
ResMed and Propeller expect to finalize the deal before the end of the third quarter of ResMed’s fiscal year 2019 (March 30, 2019), subject to customary closing conditions, including regulatory approvals.
DLA Piper is serving as ResMed’s legal counsel. Allen & Company LLC is serving as exclusive financial advisor to Propeller, and Fenwick & West LLP is serving as its legal counsel.
About ResMed
ResMed (NYSE: RMD) (ASX: RMD), a world-leading connected health company with more than 6 million cloud-connected devices for daily remote patient monitoring, changes lives with every breath. Its award-winning devices and software solutions help treat and manage sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its 6,000-member team strives to improve patients’ quality of life, reduce the impact of chronic disease and save healthcare costs in more than 120 countries. ResMed.com
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 .
Forward-looking statements
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 forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181203005218/en/
Contact:
ResMed contacts For media: Jayme Rubenstein +1 858.836.6798 news@resmed.com
For investors: Amy Wakeham +1 858.836.5000 investorrelations@resmed.com
Propeller Health contact Mike Pilarz +1 608.709.8729 press@propellerhealth.com
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
83% of Chinese Consumers Use Quick Commerce, Offering a Glimpse into Grocery's Future27.8.2026 12:30:00 CEST | Press release
NIQ report shows ultra-fast delivery is already mainstream in parts of Asia, but rapid channel growth does not automatically translate into strong returns for brands. The next major shift in retail may not be happening on shelves. It is happening in the everyday grocery basket, where speed, convenience and top-up missions are reshaping how consumers buy. Quick commerce is emerging as a core engine of grocery growth, according to NIQ (NYSE: NIQ), a leading consumer intelligence company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260824560517/en/ Asia is leading the quick commerce revolution, with adoption rates of 83% in China and 82% in India. NIQ's global report, The Commerce Revolution: Where East Meets West, finds that ultra-fast delivery is already mainstream across parts of Asia, offering a preview of how commerce is likely to evolve globally. The clearest signs of this shift can be seen in China and India, where qu
Ant International Joins Hong Kong Regulators’ GenA.I. Sandbox++ to Advance Bank Liquidity Management with AI27.8.2026 12:00:00 CEST | Press release
Ant Bank and Bettr aim to establish 24/7 liquidity risk management ecosystem Ant International’s Ant Bank, a digital bank based in Hong Kong, and Bettr, its inclusive embedded financial solutions provider, have been selected to participate in Hong Kong regulators’ GenA.I. Sandbox++, focusing on the liquidity risk management track. Ant Bank will leverage Ant International's Falcon Time-Series Transformer (TST) AI Model 2.0 to enhance its FX and liquidity management capabilities. The partnership will deploy granular, statistically-grounded daily forecasts, to support more precise and proactive liquidity planning for the bank's real-time treasury management — strengthening its capabilities to support a 24/7 financial ecosystem. As Hong Kong's only digital bank deeply integrated with an e-wallet, Ant Bank aims to leverage technology to provide innovative, inclusive and customer-centric digital financial services. To enhance customer experience, the bank sought to integrate AI and LLM techn
74% of Shoppers Use AI for Discovery—NIQ Showcases What That Means for the Consumer Purchase Journey in New Report27.8.2026 12:00:00 CEST | Press release
New NIQ & World Data Lab report reveals how AI, retail media, and social commerce are transforming the consumer purchase journey Consumers are increasingly turning to new technologies to help navigate a more complex shopping landscape. Nearly three-quarters of shoppers now use AI for product discovery, while retail media has grown into a $184 billion global market. Together, these shifts are reshaping how products are discovered, evaluated, and ultimately purchased. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827177247/en/ AI is becoming the new gatekeeper of product discovery. NIQ has released A Tale of Two Consumers: The Polarized Mindsets Reshaping Global Consumption, a new global report in collaboration with World Data Lab showing how artificial intelligence, retail media networks, and social commerce are transforming the path to purchase and influencing which products consumers ultimately buy. The findings build o
Ant International’s R2 Enters Brazil, Bringing Embedded Credit Technology to Serve SMBs and Gig Workers27.8.2026 11:00:00 CEST | Press release
R2 today announced its expansion into Brazil, marking the company's entry into Latin America's largest economy. With the support of Ant International, a leading global digital payment, digitisation and FinAI solutions provider, R2 will partner with digital platforms across Brazil to embed working capital solutions directly into the products their merchants and gig workers already use. For digital platforms, marketplaces, payment providers, ecommerce companies, and others serving SMBs and gig workers, R2 provides a proven embedded credit technology solution that enables them to offer financing to their users without building credit operations themselves, and without taking on credit risk. The result is a new revenue stream and a stronger value proposition for their merchant base. For the businesses and workers those platforms serve, it means access to working capital based on how they actually perform, not on documentation that most of them don't have. "Brazil is a defining milestone in
Samsung Display Elevates Gaming Immersion with QD-OLED at Gamescom 202627.8.2026 10:30:00 CEST | Press release
Collaborates with global game companies CAPCOM, KRAFTON and CD PROJEKT RED to showcase QD-OLED gaming experiences Offers hands-on gameplay of highly anticipated titles on about 180 QD-OLED products, highlighting QD-OLED’s fast response times, true blacks and rich color reproduction Begins mass production of 24.5-inch QD-OLED panels for eSports and first-person shooter (FPS) gaming by year-end Global PC manufacturers unveil plans to launch new products featuring Samsung Display’s 24.5-inch QD-OLED panels Samsung Display’s QD-OLED holds nearly 75% of the self-emissive monitor panel market, with lineup expansion set to further strengthen market leadership Samsung Display will showcase the gaming performance advantages of QD-OLED through collaborations with global game companies at gamescom 2026, the world’s largest gaming exhibition. The company also announced plans to begin mass production of 24.5-inch QD-OLED panels optimized for eSports and FPS games by the end of this year, underscori
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom