ResMed sells MatrixCare business for $490M
- ResMed has entered into a definitive agreement to divest its MatrixCare software business to private equity firm Frazier Healthcare Partners for $490 million in cash.
- The transaction follows a 12% increase in the company's share price over the week leading up to the announcement.
- The divestiture is intended to sharpen the company's focus on its core high-growth sleep health and connected home-based healthcare markets.
ResMed (ASX:RMD) has signed a definitive agreement to sell its MatrixCare software business to private equity firm Frazier Healthcare Partners for $490 million in cash to streamline its healthcare technology portfolio.
The business unit being divested generated approximately $220 million in revenue and $55 million in non-GAAP operating profit during the 2026 fiscal year.
“Today’s announcement is about our disciplined approach to portfolio management and our commitment to driving long-term growth,” said ResMed Chairman and CEO Mick Farrell.
The company stated that the transaction is expected to close during the first quarter of its 2027 fiscal year, subject to regulatory approvals and customary closing conditions.
Following the announcement, the ResMed share price was up at $219.75.
The company stated that this divestiture aligns with its 2030 corporate strategy to reallocate capital and resources towards innovation and operational scale across its home-based care ecosystem.
To further expand its core clinical offerings, the medical device company also recently completed its acquisition of sleep health firm Noctrix Health.
