Page 10 - HME Business, Jan/Feb 2019

News / Trends / Analysis
ResMed Acquires Propeller Health for $225M
Acquisition of cloud-connected healthcare company will give ResMed technology for remotely monitoring COPD and asthma patients’ medication use.
Sleep therapy and respiratory equipment and technology company ResMed has acquired- Propeller Health, a company that makes remote patient monitoring tools, for $225 million.
Propeller Health produces connected care prod- ucts and systems that help track medication use by patients with chronic obstructive pulmonary disease (COPD) and asthma. Propeller’s platform consists of small sensors that attach to consumers’ inhalers and pair with a mobile app to track how they are using their medication.
A statement from ResMed said that Propeller’s ability to support patients with stage II and III COPD severity levels complement its suite of cloud-connected ventilators for patients with stage III and IV COPD, as well as its new portable oxygen concentrator, Mobi.
“By working with Propeller’s existing partners to offer digital solutions for respiratory care pharmaceu- ticals and building on our proven ability to support digital solutions at scale, we can positively impact the lives of even more of the 380 million people world- wide who are living with this debilitating chronic disease,” said ResMed CEO Mick Farrell.
“Joining forces enables us to accelerate the adoption of Propeller’s solutions at a global scale, and serve as a powerful platform for a broad set
of pharmaceutical and healthcare partners,” said David Van Sickle, co-founder and CEO of Propeller.
ResMed will fund the $225 million purchase of Propeller primarily with its credit facility. ResMed’s statement said it and Propeller expect to finalize the deal before March 30, 2019. n
PEOPLE IN HME
AEA Investors Acquires Numotion
Private equity investors will work with national CRT provider to continue its ongoing strategic growth initiative.
Private equity firm AEA Investors has purchased national complex rehab provider Numotion (Brentwood, Tenn).
AEA acquired controlling interest in Numotion from previous investors LLR Partners and Audax Group. After the sale, LLR Partners reinvested in Numotion as a minority shareholder.
Numotion has built a national footprint through a series of strategic acquisitions over the past several months. It currently operates more than 140 locations across the United States and
serves more than 250,000 clients. AEA will work with Numotion’s existing management team to continue that growth initiative, according to a statement from the company.
“We are grateful for the resources, support, and stewardship Audax and LLR have provided over the last five years in helping us transform Numotion into what it is today,” Numotion CEO Mike Swinford said. “We are well positioned to accelerate our growth trajectory and advance our mission of improving the lives of people with disabilities.
“We look forward to partnering with AEA to continue that work, and drive positive outcomes for our customers, the industry, our employees, and our shareholders,” he added.
“We are proud to have supported Mike Swinford and the Numotion team in creating such a market- leading and mission-driven provider of Complex Rehab Technology,” said Geoffrey Rehnert, co-chief executive officer of Audax Group. “... We wish continued success for Mike and his team as they enter the next stage of growth with their new partner.” n
VGM Rebrands, Expands Wound Care Division
Revised program offers resources and education to help HME providers diversify into wound care, expand existing wound care services.
VGM has rebranded its Wound Care Connection to VGM Wound Care, which also now offers additional tools and resources to help providers currently offering wound care products as well as those looking to enter into the market.
“Skin care and wound care affects each and every one of the patients HME providers work with,” said Heather Trumm, BSN, RN, CWON, director of VGM Wound Care. “Our expanded program can help VGM members effectively offer wound care products and services to fulfill patients’ needs, all while developing another revenue stream to increase business.”
Categories of wound care products covered
in the program include dressings, therapeutic support surfaces, negative pressure wound therapy, ostomy, compression and nutrition. Each category will include support materials covering billing, incremental growth products, policies, education materials, vendor list and profitability calculator, to name a few.
Prior to launching the rebrand, Trumm has been shared her past nursing experience and wound care expertise at trade shows, seminars and webi- nars. She has also developed a wound care manual to help providers train their staff.
“I truly enjoy talking about the importance of proper wound care and how to integrate clin-
ical resources with business solutions to manage an effective program,” she said. “Now that we’ve formally launched the expanded program, I look forward to continuing to share my knowledge with our membership community.” n
Industry Mourns Loss
of Mark Smith
Well-known mobility advocate, writer and speaker, Smith also worked for Pride
Mobility and Quantum Rehab.
Noted author, public speaker and disability advocate, as well as a veteran member of the HME industry, Mark Smith passed away at age 47 on Nov. 25, surrounded by his family in Shavertown, Pa.
Born with cerebral palsy, Smith worked for 17 years as general manager at Quantum Rehab and
Pride Mobility Products, where he supplied input on various projects and provided consumer feed- back to the research and development team. Mark also oversaw the company’s public rela- tions and worked closely with industry trade publications.
An author of five books and myriad magazine articles and columns, Smith was a prolific writer both in the industry and as a mobility advocate. He was well known for his website, powerchairdi- aries.com (previously known as wheelchairjunkie. com), and he was a sought-after lecturer and inspirational speaker
Smith is survived by his wife, Holly, daughters, Emily and Annabelle, as well as numerous other family members and friends.
A public service was held on Dec. 1 at Fire and Ice in Shavertown, Pa. In lieu of flowers, Smith previously stipulated that donations could be made to the Muscular Dystrophy Association. Well-wishers can send cards and other items to:
The Family of Mark Smith c/o Marketing Dept. Pride Mobility Products 182 Susquehanna Ave. Exeter, PA 18643 n
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