San Diego-based ResMed will acquire HEALTHCAREfirst, which specializes in software for home health and hospice agencies.
Deal terms were not disclosed. The transaction is expected to be finalized before the end of ResMed’s first quarter on Sept. 30.
HEALTHCAREfirst offers electronic health record software, billing and coding services, and advanced analytics for clinical, financial and administrative purposes. The privately held company appears to be a good fit for ResMed, which makes machines for sleep-related issues, and in recent years has invested heavily in software, cloud-connected devices and apps.
“The home health and hospice segments are large and growing fast, due to the rising prevalence of chronic conditions and an aging population shifting to homecare and other lower-cost care settings,” said Raj Sodhi, president of ResMed’s SaaS business, in a news release. “HEALTHCAREfirst’s solutions suite enables ResMed to help efficiently and effectively manage this growing population, benefiting patients, their families, agencies and payers.”
ResMed said the purchase will complement its existing software solutions from Brightree, which ResMed bought in 2016 for $800 million.