Propeller Health is being acquired by ResMed, a health company based in San Diego that specializes in cloud-connected medical devices and out-of-hospital software-as-a-service business solutions, the company announced today.
“ResMed shares our belief that connected health solutions create vastly better experiences and outcome for people with chronic respiratory disease,” Propeller Health CEO David Van Sickle said in a statement. “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.”
According to a release, ResMed will acquire Propeller for $225 million, with the finalization of the deal expected by March 2019.
Propeller Health’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.
Propeller Health will remain a standalone company in Madison, and no staffing changes are expected. Van Sickle will now report to ResMed President Richie McHale.