Sleep apnea device maker ResMed agrees to sell its software business MatrixCare to PE firm Frazier for $490M in cash; ResMed bought MatrixCare for $750M in 2018 (Puyaan Singh/Reuters)
ResMed, a maker of sleep apnea devices, has announced its decision to sell its software business MatrixCare to private equity firm Frazier Healthcare Partners for $490 million in cash. This sale comes after ResMed acquired MatrixCare for $750 million in 2018, indicating a significant reduction in value over the period.
WPN Brief
- What Happened
ResMed, a maker of sleep apnea devices, has announced its decision to sell its software business MatrixCare to private equity firm Frazier Healthcare Partners for $490 million in cash. This sale comes after ResMed acquired MatrixCare for $750 million in 2018, indicating a significant reduction in value over the period.
- Why It Matters
This development signifies a strategic shift for ResMed as it divests a portion of its business, potentially allowing the company to focus more on its core products in the sleep apnea market while generating immediate cash flow from the sale.