ResMed, Verily to Form Joint Venture to Help Reach Millions of Untreated Sleep Apnea Sufferers
SAN DIEGO & SOUTH SAN FRANCISCO--(BUSINESS WIRE)--Jul 11, 2018--ResMed (NYSE: RMD, ASX: RMD), a global leader in sleep apnea treatment and connected health solutions, and Verily, an Alphabet company, today announced their agreement to form a new joint venture.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180711005254/en/
Combining ResMed’s expertise in sleep apnea and Verily’s advanced health data analytics technologies, the U.S.-based joint venture will study the health and financial impacts of undiagnosed and untreated sleep apnea, and develop software solutions that enable healthcare providers to more efficiently identify, diagnose, treat and manage individuals with sleep apnea and other breathing related sleep disorders.
Sleep apnea is a sleep breathing disorder that affects an estimated 54 million Americans (calculated based on a 16-country prevalence data study), 1 and is associated with heart disease, stroke, type 2 diabetes and other life-threatening conditions. Despite the condition’s high prevalence and increasing public awareness, past research has shown that approximately 80 percent of individuals with obstructive sleep apnea are undiagnosed, 2 untreated and therefore unaware of their own risk and of the benefits that therapy could provide.
“The vast majority of people with sleep apnea don’t realize they have it, and therefore don’t seek accessible, effective treatment to mitigate its effects and long-term health risks,” said ResMed Chief Medical Officer Carlos M. Nunez, M.D. “The combined industry expertise, scalable infrastructure, and data analytics capabilities of ResMed and Verily can unlock meaningful ways to identify these individuals and support their journey to improved sleep, health and quality of life.”
“Approaching a widespread health problem like sleep apnea through collecting, organizing and activating health data is central to Verily’s mission,” said Jessica Mega, M.D., M.P.H., Chief Medical and Scientific Officer at Verily. “By better identifying at-risk individuals as well as generating real-world evidence regarding the value and effectiveness of treatment, this collaboration has the potential to improve outcomes for millions of people living with sleep apnea, and potentially other related conditions.”
The joint venture, subject to customary closing conditions, including regulatory approvals, will operate as a separate venture from ResMed and Verily.
ResMed (NYSE: RMD, ASX: RMD), a world-leading connected health company with more than 5 million cloud-connected devices for daily remote patient monitoring, changes lives with every breath. Its award-winning devices and software solutions help treat and manage sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its 6,000-member team strives to improve patients’ quality of life, reduce the impact of chronic disease and save healthcare costs in more than 120 countries. ResMed.com
Launched in 2015, Verily is a subsidiary of Alphabet focused on life sciences and healthcare. Verily’s mission is to make the world’s health data useful so that people enjoy healthier lives. Verily develops tools and devices to collect, organize and activate health data, and creates interventions to prevent and manage disease. Verily partners with leading life sciences, medical device and government organizations, using deep hardware, software, scientific, and healthcare expertise to enable faster development, meaningful advances, and deployment at scale. For more information, please visit www.verily.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20180711005254/en/
Jayme Rubenstein, +1 858-836-6798
Amy Wakeham, +1 858-836-5000
For media and investors:
Carolyn Wang, 415-736-2437
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE HEALTH MEDICAL DEVICES OTHER HEALTH PROFESSIONAL SERVICES FINANCE COMMUNICATIONS PUBLIC RELATIONS/INVESTOR RELATIONS GENERAL HEALTH MANAGED CARE
Copyright Business Wire 2018.
PUB: 07/11/2018 09:05 AM/DISC: 07/11/2018 09:05 AM