SAN DIEGO – ResMed has completed the acquisition of Ectosense, a cloud-connected home sleep test device. Ectosense’s FDA-approved NightOwl™ is sold in the United States, Australia, New Zealand, India, and parts of Europe. ResMed has distributed NightOwl in Australia, New Zealand, and India since 2020 under the brand “ResMed onesleeptest™” and has been a minority investor in Ectosense since July 2020.
“Sleep labs and home tests each have critical roles to play in expanding our reach and identifying the 936 million people worldwide who have sleep apnea,” said Jim Hollingshead, ResMed president of Sleep and Respiratory Care. “We believe Ectosense’s digital and easy-to-use solutions in the hands of both sleep lab technicians and consumers worldwide can help significantly increase diagnoses, as well as general awareness of this highly prevalent, 100% treatable disease. For millions of people, their best night’s sleep must start with a diagnosis.”
“In developing markets, we need to make sleep tests affordable, accessible and easy to use,” said Justin Leong, ResMed president of Asia and Latin America. “Ectosense’s clinically validated, consumer-friendly devices will enable us to help millions of people in many markets improve their sleep and overall health. We’re excited to welcome Ectosense’s life-changing team to the ResMed family.”
“ResMed has the global reach and passionate ambition to help increase patient access to Ectosense’s proven diagnostic solution and a path to better sleep and overall health,” added Frederik Massie, chief technology officer and cofounder of Ectosense. “It will take the combined efforts of sleep labs and connected home solutions like NightOwl to identify a significant portion of the hundreds of millions of people suffering from this disease that don’t even know it.”
Ectosense will operate within ResMed’s Sleep and Respiratory Care business. The transaction is not material to ResMed’s consolidated financial results; its financial terms were not disclosed.
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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