San Diego-based medical device company ResMed (NYSE: RMD) has purchased Mementor, a German digital health startup aimed at treating insomnia.
Why is this important: Already very present in Europe, ResMed, thanks to this latest acquisition, further expands its presence in Germany.
Offer details: Mementor will operate as a separate business unit under ResMed, be led by Noah Lorenz, co-founder and CEO of Mementor, and Katherina Jekerle, senior marketing director of ResMed Germany.
- Financial terms were not disclosed.
How it works: Mementor offers a digital sleep tool called Somnio that applies cognitive behavioral therapy (CBT) to chronic sleep issues.
- As a permanently approved digital health app in Germany, Somnio can be prescribed and is therefore eligible for reimbursement, according to ResMed.
The context: ResMed is the leading manufacturer of CPAP and BiPAP machines and has made dozens acquisitions in the SaaS digital space, such as:
- The $225 million purchase of digital inhaler startup Propeller Health in 2018.
- The $750 million purchase of post-acute electronic health records company MatrixCare, also in 2018.
Yes and: The company’s digital sleep therapy portfolio already includes:
- AirView, a cloud-based system that helps manage patients with sleep-disordered breathing and respiratory failure.
- myAir, an online assistance program and app that tracks nightly sleep data in hand with interactive coaching.
- ResMed Data Exchange, a collection of APIs, developer tools, and technical resources for integrating ResMed Air solutions into third-party applications.
- ResMed ReSupply, which runs a resupply program for sleep apnea treatment equipment.
Rollback: In June, ResMed paid $1 billion for MediFox Dan, inheriting the dominant German leader in non-hospital SaaS ecosystems.
- Through this agreement, ResMed was also able to access new care environments, including those for youth, people with disabilities and outpatients.
Between the lines: SaaS ResMed president Bobby Ghoshal told Sarah at the time that German payers were increasingly willing to invest in digitizing care.
Back to home : Already a growing healthcare provider in Europe and the United States, ResMed’s latest acquisition strengthens its global presence and enables ResMed to continue to be a serious player in digital health and medical technology.