Brightree, an Atlanta, Ga.-based provider of cloud-based software and services to the post-acute healthcare industry, is to be acquired by ResMed (NYSE: RMD) a medical-device company and develloper of sleep-disordered breathing and respiratory care solutions, for $800m.
Battery Ventures, which invested in Brightree in 2008 and became majority owner, will exit the company in conjunction with the deal.
Led by Dave Cormack, CEO, Brightree provides innovative business-management and clinical-software applications to markets including home medical equipment, home health, hospice, orthotic and prosthetic (O&P), HME pharmacy, home infusion and rehab home care segments.
Its more than 2,500 organizations customers serve patients with high rates of sleep-disordered breathing, chronic obstructive pulmonary disease and neuromuscular disease — all areas of focus for ResMed.
Last year, the company had annual revenue of $113m and EBITDA of roughly $43m.