Dual-listed sleep apnea device specialist ResMed is set to expand its software-as-a-service portfolio with the $US750 million ($A1.04bn) purchase of US healthcare software company, MatrixCare.
ResMed, listed in both Sydney and New York, said Minnesota-based MatrixCare provides acute long-term healthcare software to more than 15,000 providers across skilled nursing, life plan communities, senior living and private duty.
The deal is expected to close before ResMed's half-year results, subject to regulatory approvals.
"The acquisition of MatrixCare is an excellent addition to the out-of-hospital software portfolio that we can offer our healthcare provider customers," ResMed chief executive Mick Farrell said in a release.
ResMed, which specialises in treating sleep disorders and respiratory diseases, said it will fund the purchase primarily with its credit facility.
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It will suspend its share repurchase program once the transaction is complete.
In the 2018 calendar year, MatrixCare's pro forma net revenue is estimated to be approximately $US122 million ($A169.21 million), with pro forma earnings of approximately $US30 million ($A41.61 million).
ResMed shares were trading at $A14.63 before the open of the ASX on Tuesday.
