ResMed Acquires HB Healthcare to Help Millions of Koreans Living with Sleep Apnea, Other Respiratory Conditions

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SEOUL--(BUSINESS WIRE)-- ResMed (NYSE: RMD, ASX: RMD), a global leader in cloud-connected sleep and respiratory care devices in more than 120 countries, today announced that is has completed the acquisition of HB Healthcare (HBH) to help millions of South Koreans living with sleep apnea, chronic obstructive pulmonary disease (COPD) and other respiratory conditions.

HBH, a fast-growing privately owned South Korean home medical equipment provider, serves both reimbursed and cash-pay customers of sleep and respiratory care devices. ResMed intends to reach millions more patients through HBH and its wider network of trusted distributor partners.

“ResMed has reaffirmed its leading role in Korea’s CPAP and respiratory care market, and commitment to improving millions of Koreans’ breathing and quality of life,” said Kim Ho Kyun, ResMed Korea’s Sales and Marketing director. “With HBH and our valued distribution partners in Korea, ResMed can maximize the number of people who can enjoy the benefits of life-changing cloud-connected sleep and respiratory therapy.”

Sleep apnea in Korea

One in five Korean adults is believed to have sleep apnea, according to a study by Ansan Hospital, Korea University and the Korea Center for Disease Control and Prevention. ResMed believes that the Korean population is highly underserved, and that increased awareness among Koreans and their doctors can lead to better diagnosis rates, treatment and overall health outcomes.

The Korean government’s July 2018 decision to commence National Health Insurance Service reimbursement for sleep apnea diagnosis and CPAP treatment devices, such as ResMed's AirSense 10 and AirMini (the world’s smallest CPAP), can help encourage people with sleep apnea to seek the in-home treatment they need.

Respiratory care in Korea

Koreans required to use home ventilation to help treat their COPD or other lung disease may be eligible to rent from ResMed’s comprehensive range of ventilators through their health insurance provider.

Plus, a 2018 study showed that combining a home ventilator with home oxygen therapy significantly reduced COPD-related hospital readmissions and – in a rare finding – saved people money over the long term.

ResMed provides a comprehensive range of home ventilators through its distribution partners to patients as well. Those ventilators will be cloud-connectable later this year.

“We’re excited to join the ResMed family and, together, help provide life-changing, cloud-connectable devices to millions of Koreans living with sleep apnea, COPD and other chronic diseases,” said Hong Seung Chul, HB Healthcare’s director of patient management.

ResMed has sold sleep and respiratory care devices in Korea for more than a decade, and has consistently led efforts in the delivery of quality healthcare services to Korean customers with consistent, innovative services and support for official partners across the country.

About ResMed

At ResMed (NYSE: RMD, ASX: RMD) we pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our cloud-connected medical devices transform care for people with sleep apnea, COPD and other chronic diseases. Our comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, we improve quality of life, reduce the impact of chronic disease and lower costs for consumers and healthcare systems in more than 120 countries. To learn more, visit ResMed.com and follow @ResMed.

For media:
In Korea:
HyeLim Lee
+82 2311.4702
HyeLim.Lee@resmed.com.au

Outside Korea:
Jayme Rubenstein
+1 858.836.6798
news@resmed.com

For investors:
Amy Wakeham
+1 858.836.5000
investorrelations@resmed.com

Source: ResMed

Released March 7, 2019