Medical device maker ResMed has agreed to acquire Minnesota-based MatrixCare, which makes software for long-term care providers, for $750 million.
San Diego’s ResMed (NYSE: ticker[[RMD]]) announced its intention to buy the privately held tech company on Monday. The purchase price is 25 times MatrixCare’s pro forma 2018 earnings of about $30 million (without taking into account interest, taxes, depreciation or amortization) on anticipated net revenue of about $122 million.
ResMed, which brought in net income of $315.6 million on revenues of $2.3 billion in its most recent fiscal year, is best known for making continuous positive airway pressure (CPAP) machines that help… Read more »
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