Propeller Health to be acquired
Madison-based Propeller Health will be purchased for $225 million by San Diego-based ResMed, according to a release.
Propeller Health, co-founded by CEO David Van Sickle, helps people and doctors manage COPD and asthma through the use of sensors attached to inhalers. ResMed is a cloud-connected medical devices and out-of-hospital software-as-a-service company. The deal is expected to close by the end of March.
Propeller Health will remain as a standalone business in ResMed’s Respiratory Care portfolio. “There will be no immediate changes to management, locations, or business processes,” the release states. Propeller Health has just over 100 employees, with about 70 in Madison and 30 in California.