WASHINGTON (dpa-AFX) - ResMed (RMD), a company of cloud-connected medical devices and out-of-hospital software-as-a-service business solutions, Monday said it has completed its acquisition of Propeller Health for $225 million.
Propeller Health is a digital therapeutics company providing connected health solutions for people living with chronic obstructive pulmonary disease and asthma.
Propeller will continue to operate as a standalone business out of its Madison, Wisconsin, and San Francisco offices. Propeller will operate within ResMed's Respiratory Care portfolio. Propeller CEO David Van Sickle remains in his role, reporting to ResMed Respiratory Care President Richie McHale.
'I'm excited to welcome Propeller, a fellow digital health innovator and high-performing company, into the ResMed family,' said ResMed CEO Mick Farrell.
The addition of Propeller's business is expected to have a dilutive impact on ResMed's adjusted earnings in the range of $0.01 to $0.02 per share per quarter during the remainder of fiscal year 2019.
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