ZOLL Medical has signed an agreement to acquire an Israel-based medical device and digital health company Itamar Medical for approximately $538m.

With its US headquarters based in Atlanta, Itamar Medical is engaged in the development and commercialisation of non-invasive medical devices that help in the diagnosis of respiratory sleep disorders.

The company’s WatchPAT Home Sleep Apnea Device is a FDA-cleared sleep apnea diagnosis programme for patients and healthcare professionals.

Currently, WatchPAT is commercially available within major markets including the US, Japan, and Europe.

Itamar Medical’s digital healthcare platform is designed to facilitate the continuum of care for effective sleep apnea management.

The company also offers a Total Sleep Solution to help physicians offer sleep apnea management in various clinical environments.

ZOLL Medical CEO Jon Rennert said: “ZOLL Medical is committed to improving outcomes for underserved patients suffering from serious cardiopulmonary conditions.

“It is currently estimated that 60% of cardiovascular patients suffer from some form of sleep apnea, and the majority of these patients go undiagnosed.

“The combination of ZOLL Medical and Itamar Medical will help more patients receive diagnosis and treatment for sleep-disordered breathing. We look forward to helping strengthen the collaboration between the worlds of cardiology and sleep medicine.”

Upon completion of the transaction, Itamar Medical’s principal operations are expected to be continued at its current location in Caesarea, Israel, including its R&D and Digital Health Technology centres.

The transaction is expected to be closed by the end of this year, subject to approval by the shareholders of Itamar Medical, regulatory approvals and other customary closing conditions.

Goldman Sachs is serving as financial advisor to ZOLL Medical in connection with the transaction, while Cooley and Gornitzky serve as its legal advisors.

ZOLL Medical in engaged in providing multiple monitoring solutions that aid in the diagnosis and management of cardiac patients.

In April this year, the company acquired remedē system maker Respicardia.  remedē is an implantable device approved by the FDA to treat moderate to severe central sleep apnea (CSA) in adult patients.