SAN DIEGO, Oct. 7, 2015 /PRNewswire/ -- ResMed (NYSE:RMD) today announced it has completed the previously announced acquisition of Curative Medical, a leading provider of non-invasive ventilation and sleep-disordered breathing medical devices and accessories.
"By joining forces with Curative Medical we expand our combined reach in the growing respiratory medical device market in China," said Mick Farrell, CEO of ResMed. "Together we will focus on improving patient quality of life while reducing the cost of care for sleep-disordered breathing and chronic obstructive pulmonary disease."
ResMed China and Curative Medical will remain operationally independent, and Curative will continue to invest in R&D, manufacturing, marketing and sales teams in China. Curative will keep its name, brands, and innovative offerings tailored for the Chinese market and other global markets, and will be strategically positioned to target different customer segments than ResMed. Curative employees, including the founder and chief executive officer, Jason Sun, will continue as employees of the combined ResMed and Curative team.
Financial terms of the transaction were not disclosed.
Curative Medical will continue to support its products through its existing sales team and distribution network.
Founded in 2008, Curative has its manufacturing base in Suzhou, China, offices in Beijing, Germany and the United States, and a distributor network throughout China and in other select markets. Curative Medical is a leading innovator, designer, and manufacturer of medical devices for sleep-disordered breathing and chronic obstructive pulmonary disease, and has leveraged its expertise in China to drive its growth in other global markets. For more information about Curative, visit www.curativemedical.com.
The global team at ResMed (NYSE:RMD) is united in the commitment to change millions of lives with every breath. With more than 4,000 employees and a presence in over 100 countries, the company has been pioneering new and innovative devices and treatments for sleep-disordered breathing, chronic obstructive pulmonary disease, and other chronic diseases for more than 25 years. ResMed's world-leading products and innovative solutions improve the quality of life for millions of patients worldwide, reduce the impact of chronic disease, and save healthcare costs. For more information about ResMed and its businesses, visit www.resmed.com or follow @resmed on Twitter.
SOURCE ResMed Inc.