ResMed completes Curative Medical acquisition
Sleep disorder device supplier ResMed (ASX:RMD) has completed its acquisition of Curative Medical, a provider of non-invasive ventilation and sleep-disordered breathing medical devices and accessories to the Chinese market.
Under a definitive agreement which the two companies signed on 31 July, both ResMed China and Curative Medical will remain operationally independent. Curative will continue to invest in R&D, manufacturing, marketing and sales teams in China; keep its name, brands and offerings tailored for the Chinese market and other global markets; and be strategically positioned to target different customer segments than ResMed. Curative employees, including founder and CEO Jason Sun, will continue as employees of the combined ResMed and Curative team.
“By joining forces with Curative Medical, we expand our combined reach in the growing respiratory medical device market in China,” ResMed CEO Mick Farrell said. “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 (ASX:RMD) shares were trading 1.22% higher at $7.45 as of the close of trading on Thursday, the day of the acquisition. They had dipped slightly to $7.40 as of around 11.30 am on Monday.
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