SAN DIEGO, Feb. 4, 2016 /PRNewswire/ -- ResMed (NYSE:RMD), the world's leading innovator in sleep-disordered breathing and respiratory care, today announced it completed the acquisition of Inova Labs Inc., a privately-held medical device company that develops and commercializes innovative oxygen therapy products.
"We are excited to complete this acquisition, which expands our offerings and solutions to address a global COPD epidemic impacting tens of millions of people," said Mick Farrell, CEO of ResMed. "This acquisition is an important step to reach our goal of improving 20 million lives by 2020."
ResMed's current respiratory care offerings include world-leading patient interface products, the AirCurve™ 10 series of cloud-connected non-invasive ventilators, the Stellar™ series of non-invasive ventilators, and the flagship Astral™ series. The Astral is ResMed's award-winning lightweight non-invasive life support platform, with internal and external batteries that provide up to 24 hours of freedom for patients.
With the acquisition of Austin, Texas-based Inova Labs, ResMed's respiratory care portfolio now encompasses both innovative portable oxygen concentrators and stationary options for the home. Key products include:
- LifeChoice Activox – lightweight, portable oxygen concentrators that lead the industry in offering extended battery life for freedom and mobility.
- Activox DUO2 – the industry's first fully integrated stationary and portable oxygen concentrator system.
The transaction's financial terms were not disclosed.
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 pioneered innovative devices for the diagnosis, treatment and management of sleep-disordered breathing, chronic obstructive pulmonary disease and other chronic conditions for more than 25 years. ResMed's world-leading products and connected healthcare 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 and Facebook.
SOURCE ResMed Inc.