Australian life sciences company ResMed (ASX:RMD) has announced the US$1 billion acquisition of German software company MEDIFOX DAN.
The privately held MEDIFOX DAN is a leading European provider of out-of-hospital software solutions for health care providers. Its solution covers care documentation, personnel planning, administration and billing.
In the calendar year 2021, MEDIFOX DAN’s net revenue was approximately $83 million with adjusted earnings of approximately $35 million.
MEDIFOX DAN employs over 600 people. ResMed said it intends to retain MEDIFOX DAN’s employees, management structure, locations and business processes.
ResMed said the German company's customer base is complementary to its US-based software providers.
"In addition, the acquisition of MEDIFOX DAN builds on ResMed’s existing business in Germany as a leading provider of innovative cloud-connected medical devices that transform care for patients with sleep apnea and other respiratory conditions," it said.
“With the acquisition of MEDIFOX DAN, a fast-growing and innovative German healthcare software leader, we will expand ResMed’s SaaS business portfolio outside our current base in the US market and strengthen our position as the global leader in healthcare software solutions for lower-cost and lower-acuity care,” said ResMed CEO Mick Farrell.
“We are excited to welcome the MEDIFOX DAN team to our global ResMed family: Our management cultures are highly aligned with a laser focus on lowering costs, improving outcomes, and changing the course of chronic disease management.
"MEDIFOX DAN has a strong track record of innovation, fully aligned with our teams at Brightree, MatrixCare, and beyond. MEDIFOX DAN’s customer-centricity has built strong and ongoing, growing demand for its software solutions across Germany, and we expect that momentum to continue and strengthen as we become one global team.
"Our MEDIFOX DAN and ResMed teams are united with the same global mission: to help many hundreds of millions of people live healthier lives outside the hospital, and preferably in their own home.”
"MEDIFOX DAN helps people to help people. We believe that the partnership with ResMed is a unique opportunity to fulfil this promise through the strategic perspectives of an international player on an even larger scale in the future. From now on we are part of a global company that specializes in the digitization of the healthcare system," added MEDIFOX DAN co-managing directors Dr Thorsten Schliebe and Christian Städtler.