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ResMed completes acquisition of BiancaMed

ResMed, a developer, manufacturer and distributor of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders, announced the acquisition of BiancaMed Ltd, a leading Irish medical technology company. BiancaMed sells an innovative, convenient, non-contact device for the monitoring of sleep and breathing in the home and hospital markets. The core of BiancaMed’s proprietary technology is a sensitive motion sensor that can detect respiration and movement without being connected to the human body. ResMed is committed to advancing innovative technology in sleep and respiratory medicine and commercialising innovative products incorporating these technologies on a global basis. ResMed, which has a long-standing relationship with BiancaMed having provided seed investment in 2003, is seeking to expand its diagnostic range and patient reach through this strategic acquisition. BiancaMed, a University College Dublin spin-out company, was co-founded in 2003 by Dr. Philip de Chazal, Dr. Conor Hanley and Professor Conor Heneghan to commercialise research undertaken in UCD’s School of Electrical, Electronic and Mechanical Engineering. BiancaMed is headquartered in NovaUCD, the Innovation and Technology Transfer Centre, and currently employs 29 people. Announcing the acquisition, Peter Farrell, ResMed’s chairman and chief utive officer says, “We are committed to innovation in sleep and respiratory medicine and the related co-morbidities by commercializing products incorporating novel technologies. We have worked closely with BiancaMed for many years and have been investors since their inception in 2003. BiancaMed has exciting technology and a world-class team. We believe there are many opportunities for BiancaMed’s applications that will provide future growth, and we look forward to maintaining and building the BiancaMed team.” Through this acquisition ResMed intends to grow and develop the exciting connected health sector in Ireland. BiancaMed’s shareholders include Enterprise Ireland, DFJ ePlanet Ventures, Invest Northern Ireland, ResMed, Seventure Partners and University College Dublin.

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