(Bloomberg) -- ResMed Inc., a publicly traded medical equipment provider, is in advanced talks to buy MediFox Dan Holding GmbH, a German health software company owned by private equity firm Hg, according to people familiar with the matter.
ResMed, based in San Diego, could announce a deal for MediFox in the coming days, the people said, asking not to be identified because the matter is private.
The deal, which will expand ResMed into the fast-growing software space, could value MediFox at about $1 billion, including debt, according to one of the people.
No deal is finalized and talks could still fall apart.
Representatives for Hg and ResMed declined to comment. A representative for MediFox couldn’t immediately be reached for comment.
Hg first invested an undisclosed sum in Hildesheim, Germany-based MediFox in 2018, a statement showed at the time. The company was founded in 1994 and merged with Dan in 2020, Hg’s website showed.
ResMed makes medical products that treat breathing disorders like sleep apnea. ResMed shares were down 1.8% on Monday at $204.68 a share, giving the company a market value of about $30 billion.
At $1 billion, MediFox would represent ResMed’s largest deal to date, according to data compiled by Bloomberg.
ResMed made almost 39% of its revenue for 2021 outside of the US, according to its latest annual report, though it doesn’t break down specific regions.
©2022 Bloomberg L.P.
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