ResMed becomes player in oxygen market
SAN DIEGO – ResMed has acquired Austin, Texas-based Inova Labs, adding oxygen concentrators to its portfolio of products aimed at treating patients with COPD.
Key products from Inova Labs include the LifeChoice Activox portable oxygen concentrator and the Activox DUO2 integrated stationary and POC system.
ResMed, best known for products aimed at treating patients with sleep disorders, has products in the oxygen market—the AirCurve10 and Stellar series of non-invasive vents, and the Astral non-invasive life support platform—but no oxygen concentrators.
“We are excited to expand our offerings and solutions for the global COPD epidemic,” stated Mick Farrell, CEO of ResMed, in a press release. “With the acquisition of Inova Labs, ResMed is delivering on its commitment to find further ways to improve the quality of life for tens of millions of people as they deal with COPD.”
Inova will benefit from the much-larger ResMed’s “global expertise and innovative culture,” according to the release.
“We are excited about joining forces with ResMed to improve patient engagement and adherence to treatment, to create business efficiencies for home medical equipment providers and to help enhance the quality of life for those suffering from COPD,” stated John Rush, CEO of Inova Labs.
Inova Labs completed a $12 million round of financing from six investors in 2013. It secured $10 million in Series A funding from a sole investor, Three Arch Partners, in 2010. Its board of directors has members from Three Arch Partners, as well as Blue Water Growth, Gilde Healthcare Partners and Latterell Venture Partners.