ResMed To Buy Privately-held Brightree For $800 Mln

(RTTNews) - Medical device company ResMed (RMD), Monday agreed to buy privately-held Brightree, for $800 million in cash.

Brightree's cloud-based software helps customers improve clinical and business performance in the post-acute care industries of home/durable medical equipment (HME/DME), home health, and hospice, ResMed said in a statement.

Brightree genearted sales of about $113 million and EBITDA of about $43 million in calendar year 2015.

"This acquisition furthers ResMed's position as the leading tech-driven medical device company and gives our customers new tools to help them increase operational efficiency and improve cash-flow while delivering best-in-class patient care," said Mick Farrell, CEO of ResMed.

ResMed will acquire Brightree for $800 million in cash, which ResMed will fund primarily with debt.

ResMed expects the acquisition to be immediately accretive to gross margins and adjusted earnings after close and beyond.