$225 million acquisition of Madison-based Propeller Health is completed
Madison-based Propeller Health is now part of publicly traded ResMed, a medical device company in San Diego.
“I’m excited to welcome Propeller, a fellow digital health innovator and high-performing company, into the ResMed family,” CEO Mick Farrell said.
Propeller provides sensors and software used with partner companies’ rescue inhalers to monitor and help minimize respiratory emergencies by people with asthma or chronic obstructive pulmonary disease (COPD).
Propeller will operate as a stand-alone company in Madison and San Francisco, and co-founder/CEO David Van Sickle will continue in that role.
Founded in 2010, Propeller has 106 employees, 71 of them in Madison.
ResMed, founded in 1989, had $2.3 billion in revenue in its 2018 fiscal year, and has more than 6,000 employees.
Meanwhile, Propeller Health will equip Orion Corp.’s Easyhaler inhalers with a customized sensor. Development begins this year, and clinical trials will follow before the combined product can be released for public use.
Orion is a Finnish pharmaceutical company, and the partnership will expand Propeller’s availability in Europe.
Propeller now has 74 programs with partners such as health care organizations and pharmaceutical companies, and the U.S. Food and Drug Administration has cleared its technology for use with six types of inhalers, so far.
More than 70,000 patients are using Propeller’s digital tools.