M&A Deal Summary

ResMed Acquires MEDIFOX DAN

On June 14, 2022, ResMed acquired software company MEDIFOX DAN from HgCapital and HarbourVest Partners for 1.0B USD

Acquisition Highlights
  • This is ResMed’s 3rd transaction in the Software sector.
  • This is ResMed’s largest (disclosed) transaction.
  • This is ResMed’s 2nd transaction in Germany.

M&A Deal Summary

Date 2022-06-14
Target MEDIFOX DAN
Sector Software
Buyer(s) ResMed
Sellers(s) HgCapital
HarbourVest Partners
Deal Type Add-on Acquisition
Deal Value 1.0B USD

Target

MEDIFOX DAN

Hildesheim, Germany
MEDIFOX DAN is a provider of software solutions to outpatient and inpatient care providers and therapy practices. The Company specializes in the development of innovative software solutions and services for professional and non-professional care, therapeutic practices and child, family, and youth welfare facilities. MEDIFOX DAN was established in 1994 and is based in Hildesheim, Germany.

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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 20 of 22
Sector (Software) 3 of 4
Type (Add-on Acquisition) 19 of 21
Country (Germany) 2 of 3
Year (2022) 1 of 2
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-08 Hibi Health Care

Seoul, South Korea

Hibi Health Care Co. Ltd. is a fast-growing privately owned South Korean home medical equipment provider, serves both reimbursed and cash-pay customers of sleep and respiratory care devices.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 mementor

Leipzig, Germany

mementor develops and owns the digital insomnia therapy solution somnio, which is Germany’s first and only permanently approved Digital Health Application (DiGA) in the field of sleep medicine and thus eligible for reimbursement in Germany. mementor was founded in 2014 and is based in Leipzig, Germany.

Buy -

Seller(S) 2

SELLER

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 86 of 92
Sector (Software) 18 of 20
Type (Add-on Acquisition) 41 of 44
Country (Germany) 16 of 19
Year (2022) 4 of 5
Size (of disclosed) 6 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-18 itm8

Herning, Denmark

itm8 is a provider of IT outsourcing focused at smaller businesses. itm8 provides services which allow SMEs to move their IT infrastructure and operations into the cloud, as well as providing end user support and consulting as part of a full-service IT offering. itm8 was founded in 2003 and is based in Herning, Denmark.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 Ideagen

Ruddington, United Kingdom

Ideagen is a software development business specializing in information management solutions for organizations that operate within industries that are subject to high regulatory standards. Ideagen was founded in 1993 and is based in Ruddington, United Kingdom.

Buy £1.1B
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 119 of 132
Sector (Software) 14 of 16
Type (Add-on Acquisition) 48 of 57
Country (Germany) 6 of 7
Year (2022) 2 of 5
Size (of disclosed) 21 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 SAFE Boats

Bremerton, Washington, United States

SAFE Boats designs and builds highly reliable and extremely durable vessels that help keep military, law enforcement and fire professionals safe as they carry out their duties, protect citizens and work to save lives. SAFE Boats was founded in 1996 and is based in Bremerton, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 Mercury Healthcare

Denver, Colorado, United States

Mercury Healthcare is a technology and data analytics company that empowers healthcare organizations to engage consumers and optimize provider relationships to accelerate growth. Mercury Healthcare was founded in 1998 and is based in Denver, Colorado.

Sell -