Resmed has agreed to sell its MatrixCare business in a $490m cash deal to PE firm Frazier Healthcare Partners, allowing it to dedicate its focus to its sleep health-related business interests
The California-based company said the move reflects its 2030 strategy, which is focused on “high-growth, scalable opportunities” in sleep health, breathing health and connected home-based healthcare
Resmed’s key products are its AirSense range of continuous positive airway pressure (CPAP) machines and its AirFit range of CPAP masks
The divestiture also strengthens Resmed’s ability to reallocate capital and recreation across its connected, home-based care ecosystem, the company added
The decision to sell MatrixCare, a software solution for healthcare providers (HCPs) across areas including skilled nursing, life plan communities, and senior living and private duty, comes just eight years after Resmed acquired the Minnesota-based company in 2018
The transaction also includes related software offerings historically sold under the MatrixCare brand, including Healthcare First, Citus and home health and hospice solutions, yet excludes Resmed’s other software businesses, Brightree and MEDIFOX DAN. Resmed expects the transaction to close by Q1 of its 2027 fiscal year (FY27)
Mick Farrell, chairman and CEO of Resmed, commented: “By focusing on areas where we see the greatest opportunity for sleep health innovation and impact, we are strengthening our ability to deliver life-changing health technologies, improve patient outcomes and create value for our stakeholders
“We are confident MatrixCare and its affiliated businesses will continue to support team members and drive growth under new ownership with a dedicated focus on the long-term care market.”
MatrixCare’s divestiture comes just one month after Resmed acquired Noctrix Health in a $340m deal to bolster its sleep care product portfolio. The acquisition gave Resmed Noctrix’s Nidra, a tonic motor activation (TOMAC) therapy for non-invasively addressing the symptoms of restless leg syndrome (RLS) in patients who have not adequately responded to pharmaceutical therapies
“Resmed sharpens sleep care focus with $490m software business sale” was originally created and a GlobalData owned brand
