M&A Deal Summary

ResMed Acquires MDI Achieve

On November 5, 2018, ResMed acquired software company MDI Achieve from OMERS Private Equity for 750M USD

Acquisition Highlights
  • This is ResMed’s 2nd transaction in the Software sector.
  • This is ResMed’s 3rd largest (disclosed) transaction.
  • This is ResMed’s 9th transaction in the United States.
  • This is ResMed’s 1st transaction in Montana.

M&A Deal Summary

Date 2018-11-05
Target MDI Achieve
Sector Software
Buyer(s) ResMed
Sellers(s) OMERS Private Equity
Deal Type Add-on Acquisition
Deal Value 750M USD
Advisor(s) William Blair (Financial)
Sidley (Legal)

Target

MDI Achieve

Bloomington, Montana, United States
MDI Achieve, Inc. (MatrixCare) is a provider of software services to EHR for long-term care and senior living provider. MatrixCare is the complete solution for growing organizations that need to successfully manage risk in care delivery across the LTPAC spectrum. Trusted by more than 13,000 facility-based care settings and more than 2,500 home care, home health, and hospice organizations, MatrixCare’s solutions help ACOs, skilled nursing and senior living providers, life plan communities (CCRCs), and home health organizations to connect, collaborate and prosper as we migrate to a fee-for-value healthcare system. In addition to EHR components purpose-built for any LTPAC care-setting, MatrixCare also includes solutions to systematically increase clinical quality: Enterprise Analytics, robust Clinical Decision Support, and the industry’s first Care Coordination platform to create a true, person-centric, e-longitudinal health record and enable LTPAC providers to efficiently manage the populations under their care.

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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 17 of 22
Sector (Software) 2 of 4
Type (Add-on Acquisition) 16 of 21
State (Montana) 1 of 1
Country (United States) 9 of 11
Year (2018) 2 of 3
Size (of disclosed) 3 of 8
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Propeller Health

Madison, Wisconsin, United States

Propeller Health is a digital therapeutics company dedicated to the development and commercialization of measurably better medicines. Propeller creates products to more effectively treat chronic respiratory disease and improve clinical outcomes for patients through connectivity, analytics, and companion digital experiences. The Propeller platform is used by patients, physicians and healthcare organizations in the United States, Europe and Asia.

Buy $225M

Seller(S) 1

SELLER

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 19.8B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.


DEAL STATS #
Overall 24 of 29
Sector (Software) 3 of 3
Type (Add-on Acquisition) 8 of 8
State (Montana) 1 of 1
Country (United States) 11 of 13
Year (2018) 1 of 1
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-20 Paradigm Outcomes

Walnut Creek, California, United States

Paradigm Outcomes is a provider of managed care services for persons with catastrophic injuries from the workplace. Paradigm, through its proprietary databases, processes and medical network, achieves improved outcomes for injured workers as well as significant savings for insurers and other parties involved in their care. Paradigm Outcomes was founded in 1991 and is based in Walnut Creek, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-17 National Veterinary Associates

Agoura Hills, California, United States

National Veterinary Associates, Inc. is one of the largest veterinary and pet care services organizations in the world. NVA partners with over 700 general practice hospitals, specialty + ER hospitals, equine hospitals, and pet resorts in the U.S., Canada, Australia, and New Zealand. NVA’s 14,000 team members and 2,600 veterinarians are united by a common purpose – a love for animals and the people who love them – and a common mission – to improve the comfort and well-being of animals by providing progressive and compassionate care. NVA’s veterinarians and animal care professionals provide a full range of medical and surgical services. T

Sell -