ResMed has completed the previously announced acquisition of post-acute care software provider MatrixCare for $750m.
Image: ResMed completes MatrixCare acquisition. Photo: Courtesy of IndypendenZ/FreeDigitalPhotos.net.
Based in Minnesota, MatrixCare offers services such as point of care, lead and referral management, claims processing, payroll and nutrition management and others.
The company offers electronic health record (EHR) solution that can be used across a range of long-term care settings, enabling providers to improve patient management efficiencies and deliver better clinical care.
MatrixCare services are used by more than 15,000 providers across skilled nursing, life plan communities, senior living and private duty. It also helps organizations in managing risk in care delivery across the long-term post-acute care (LTPAC) spectrum.
Furthermore, MatrixCare’s services complement its other SaaS offerings in home medical equipment, home health and hospice, delivered through Brightree and HEALTHCAREfirst, acquired by ResMed in April 2016 and July this year, respectively.
ResMed CEO Mick Farrell said: “We’re all excited to have quickly closed this important deal and can officially welcome MatrixCare to the ResMed family. ResMed is the world’s top tech-driven medical device company, and we are well on our way to being the top provider of out-of-hospital software.
“It all fits into our mission of changing millions of people’s lives, whether it’s by treating and preventing the advance of chronic disease or helping someone easily navigate out-of-hospital healthcare settings so they and their loved ones can live their best life.”
As the acquisition is completed, MatrixCare will now continue to operate as a standalone business within ResMed’s SaaS portfolio. It will have targeted commercial, technical and operating links with ResMed and Brightree.
ResMed said that it will drive an integrated ecosystem of solutions across these platforms, where single-patient records can be maintained across multiple care settings.
MatrixCare CEO John Damgaard will continue in his current role and will report to ResMed SaaS president Raj Sodhi. Furthermore, there will be no immediate changes to management, locations or business processes.