In an attempt to expand its global leadership in remote patient monitoring and connected healthcare solutions, ResMed Inc. (RMD – Analyst Report) recently agreed to buy health-information technology group Brightree, for $800 million in cash. Brightree is a provider of cloud-based clinical software applications for the post-acute care industry.
The transaction is expected to close by the end of the fourth quarter of fiscal 2016, subject to customary closing conditions and regulatory approvals.
Customers of Brightree’s business management and software solutions belong to post-acute care industries, which include home/durable medical equipment (HME/DME), home health, and hospice – areas that have high prevalence of sleep-disordered breathing, chronic obstructive pulmonary disease (COPD), neuromuscular disease, and other chronic conditions.
Brightree serves more than 2,500 organizations in the HME, home health, hospice, orthotic and prosthetic industries. ResMed’s customers are the leading users of Brightree’s business management and clinical software applications. By virtue of this, management believes this takeover will allow ResMed to rightly lead the tech-driven medical device space. For the full article click here
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