DLA Piper represented ResMed (NYSE: RMD), a world-leading connected health company, in its entry into a definitive agreement to acquire Propeller Health, a digital therapeutics firm, for US$225 million.
The acquisition will give ResMed access to a provider of connected devices for patients with chronic obstructive pulmonary disease and asthma. The Propeller platform consists of sensors that attach to inhalers, as well as a mobile app, which together provide feedback including real-time data on medication use. The transaction is expected to close by the end of the third quarter of ResMed's fiscal year 2019, and Propeller will then operate as a standalone entity within ResMed's respiratory care portfolio.
The DLA Piper team was led by partner Martin Nichols (San Diego) and included partners Michael Brown, Mark Lehberg (both of San Diego), and Paolo Morante (New York); managing director Chris Stevenson (Seattle); and associates Samuel Esan, Kevin Berggren, Jennifer Cumming (all of San Diego), and Nicole Albertson (Silicon Valley).