You have our attention
By Liz Beaulieu, Editor
Updated Wed February 24, 2016
It's been interesting to see the headlines this week related to the news that ResMed plans to buy Brightree for $800 million
Here's a sampling:
ResMed, the software company?
Is ResMed's $800M health IT buy a pivot away from devices?
ResMed announces blockbuster $1.1 billion US acquisition
ResMed takes out Brightree for $800M
The news has been covered well beyond our HME industry, from the mainstream press (the San Diego Union-Tribune in ResMed's hometown in the U.S. and the Sydney Morning Herald in its hometown globally), from trade publications in other industries (Home Health Care News), from the financial press (Dow Jones, StreetInsider).
If Lincare hadn't recently bought American HomePatient, I'd say it's been a very long time since the HME industry got this kind of attention.
Even though we knew Brightree was shopping for a buyer, I'm not sure we were expecting ResMed to be in line with an offer. Maybe a larger provider of health IT solutions trying to round out its offerings to include HME, home health and hospice, especially with the attention on post-acute care, like a Cerner or Epic? But ResMed?
Based on the questions from analysts during a conference call this week to discuss the details of the acquisition, we were in good company.
But after ResMed officials connected a few dots, a vision began to take shape.
With the roles and responsibilities of different types of healthcare providers continuing to meld (hospitals being responsible for what goes on outside of their four walls for one), seeing a manufacturer of respiratory equipment that values connected health care buying a vendor of business management and clinical software applications doesn't seem that far fetched.
There's also the very real and tangible benefits of Brightree's $113 million in revenues and 80%-plus recurring revenues in 2015, and its customer base outside of HME, in home health and hospice.
It will be very interesting to see how this deal, once it's closed, plays out.
One thing's for sure: ResMed, you have our attention.
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