San Diego-based ResMed announced it will acquire Inova Labs, a private medical device company based in Austin, Texas, that is focused on the development and commercialization of innovative oxygen therapies and products. Oxygen therapy is the biggest nondrug delivery medical device segment for the treatment of chronic obstructive pulmonary disease (COPD), a condition that affects more than 65 million people worldwide.
The financial terms of the acquisition were not disclosed.
“COPD is the third leading cause of death in the United States and, sadly, the disease is on its way to achieving the same ranking globally,” ResMed CEO Mick Farrell said in a press release. “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.
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,” Farrell said.
ResMed’s respiratory care portfolio now goes on to include both innovative portable oxygen concentrators and all the necessary stationary options for home use. New key products comprise:
- Activox DUO2 – a fully integrated stationary and portable oxygen concentrator system;
- LifeChoice Activox – a lightweight, portable oxygen concentrator with extended battery life, allowing the user to move with fewer constraints.
“ResMed is the global leader in connected healthcare solutions for sleep and respiratory conditions,” noted Inova Labs’ CEO, John Rush. “That’s a perfect fit with our 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.”
The new additions join ResMed’s current care offerings for respiratory conditions, including:
- ResMed’s lightweight noninvasive life support platform, with internal and external batteries that provide up to 24 hours of freedom for patients;
- World-leading patient interface products;
- The flagship Astral series;
- The Stellar series of noninvasive ventilators;
- The AirCurve10 series of cloud-connected noninvasive ventilators.