(RMD) ResMed Acquires BiancaMed

Developer and marketer of medical equipments for treating sleep disordered breathing and other respiratory disorders, ResMed Inc. (RMD) recently acquired an Irish medical technology company BiancaMed Ltd. As per the terms of the deal, ResMed purchased all outstanding shares of BiancaMed. Financial terms of the deal were not disclosed.

BiancaMed is a manufacturer and distributor of non-contact devices for monitoring sleep and breathing. The company’s leading product SleepMinder measures sleep and respiration with improved biometric software. The company’s proprietary technology motion sensor detects respiration and movement without physical contact. Resmed intends to integrate BiancaMed into its new Ventures and Initiatives unit.  ResMed estimates that the acquisition will dilute ResMed’s EPS by 4 cents in fiscal 2012.

ResMed is one of the leading players in the generators, masks, and related accessories market, for the treatment of obstructive sleep apnea and related respiratory disorders. The company is focused on developing medical equipments for the diagnosis and treatment of sleep-disordered breathing. Besides, the industry is benefiting from an aging population and an inclination for availing medical care away from hospitals.

Based on a favorable product mix and vastly under-penetrated and growing sleep-disorder breathing market, the company reported over 9% growth in the domestic market during the third quarter of 2011. Although this growth was partially offset by declining bi-level sales in Americas, the company remains optimistic based on its recent introduction of next generation S9 bi-level series. Besides, revenues earned from the international market increased 16%. The company benefited from strong sales of S9 Autoset and newly launched Quattro FX full face mask and Mirage FX nasal mask in the international market.

Moreover, ResMed exited the quarter with cash and cash equivalents of $671.7 million, up 37.4% from $488.8 million at the end of June 2010. Cash flow generated from operations was $64.0 million.

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