M&A Deal Summary

ResMed Acquires Brightree

On February 22, 2016, ResMed acquired internet software and services company Brightree from Battery Ventures for 800M USD

Acquisition Highlights
  • This is ResMed’s 3rd transaction in the Internet Software and Services sector.
  • This is ResMed’s 2nd largest (disclosed) transaction.
  • This is ResMed’s 7th transaction in the United States.
  • This is ResMed’s 1st transaction in Georgia.

M&A Deal Summary
Date 2016-02-22
Target Brightree
Sector Internet Software and Services
Buyer(s) ResMed
Sellers(s) Battery Ventures
Deal Type Add-on Acquisition
Deal Value 800M USD
Advisor(s) William Blair (Financial)
Cooley (Legal)

Target

Brightree

Duluth, Georgia, United States
Brightree LLC is a provider of cloud-based software to improve clinical and business performance in the post-acute care industry.

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Buyer(S) 1

Buyer

ResMed

San Diego, California, United States
Category Company
Founded 1989
Sector Medical Products
Employees7,770
Revenue 4.2B USD (2023)
DESCRIPTION
Entrance to ResMed's corporate headquarters in San Diego, California.
Entrance to ResMed's corporate headquarters in San Diego, California.

ResMed is a developer, manufacturer, and marketer of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders including sleep disordered breathing, or SDB, chronic obstructive pulmonary disease, or COPD, neuromuscular disease and other chronic diseases. ResMed's products and solutions are designed to improve patient quality of life, reduce the impact of chronic disease and lower healthcare costs as global healthcare systems continue to drive a shift in care from hospitals to the home and lower cost settings. ResMed's cloud-based software digital health applications, along with its devices are designed to provide connected care to improve patient outcomes and efficiencies for its customers. ResMed was founded in 1989 and is based in San Diego, California.

DEAL STATS #
Overall 15 of 22
Sector (Internet Software and Services) 3 of 4
Type (Add-on Acquisition) 14 of 21
State (Georgia) 1 of 1
Country (United States) 7 of 11
Year (2016) 3 of 3
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-11 Inova Labs

Austin, Texas, United States

Inova Labs, Inc. is a medical device company specializing in the development and commercialization of innovative oxygen therapy products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-29 HEALTHCAREfirst

Springfield, Missouri, United States

HEALTHCAREfirst, Inc. is a provider of Software-as-a-Service (“SaaS”) solutions and services to home health and hospice agencies nationwide. HEALTHCAREfirst's solutions are web-based, providing critical patient information and management tools at the point of care.

Buy -

Seller(S) 1

SELLER

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 36 of 63
Sector (Internet Software and Services) 6 of 13
Type (Add-on Acquisition) 18 of 33
State (Georgia) 1 of 1
Country (United States) 32 of 51
Year (2016) 1 of 1
Size (of disclosed) 3 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-24 Trust International Hotel Reservation Services

Frankfurt, Germany

Trust International Hotel Reservation Services GmbH is a provider of reservation technology and distribution systems for hotel companies worldwide.

Sell $154M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-19 Alogent

Peachtree Corners, Georgia, United States

Alogent provides end-to-end payment processing, content management, digital banking, and loan origination technologies to financial institutions, currently including over 2,400 credit unions, community and regional banks, and some of the largest national and international institutions. Alogent was founded in 1995 and is based in Peachtree Corners, Georgia.

Buy -
Mergr

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