ResMed has entered into a definitive agreement to acquire Inova Labs Inc and its line of oxygen therapy delivery products, according to a company announcement. The acquisition adds long-term oxygen therapy to ResMed’s existing treatment offerings for COPD, the company noted.
The financial terms of the deal were not disclosed.
Key Inova products that will come under the ResMed banner include the LifeChoice Activox portable oxygen concentrators and the Activox Duo2, the industry’s first fully-integrated stationary and portable oxygen concentrator system.
These products will join ResMed’s current respiratory care offerings, which include patient interfaces and several noninvasive ventilation offerings like the AirCurve 10, the Stellar series, and the Astral series.
“We are excited to expand our offerings and solutions for the global COPD epidemic and to progress even more swiftly toward our ResMed goal of improving 20 million lives by 2020,” said Mick Farrell, CEO of ResMed. “With the acquisition of Inova Labs, ResMed is delivering on its commitment to find further ways to improve the quality of life for tens of millions of people as they deal with COPD, this chronic, progressive disease that literally takes patients’ breath away when untreated.”
John Rush, the CEO for Inova Labs, called the acquisition by ResMed “a perfect fit” with his company’s mission to offer oxygen therapy solutions that empower individuals to stay active and sleep well.
“We are excited about joining forces with ResMed and benefiting from their global expertise and innovative culture, to improve patient engagement and adherence to treatment, to create business efficiencies for home medical equipment providers, and to help enhance the quality of life for those suffering from COPD and other chronic respiratory conditions,” said Rush.