USA — California-based medical device company ResMed has completed its previously announced acquisition of Medifox Dan, a privately held German out-of-hospital software solutions standout.
In June, ResMed announced an agreement to acquire Medifox Dan for €958.6 million (US$984.5 million). Medifox Dan develops clinical, financial, and operational software for out-of-hospital care providers.
It offers care documentation, personnel planning, administration, and billing, among other things.
When the company announced the acquisition, it said it planned to fund the deal with its existing credit facilities. It expects the acquisition to be accretive to its adjusted diluted earnings per share.
Hildesheim, Germany-based Medifox Dan has more than 700 employees. It now operates under its current brand within ResMed’s software as a service (SaaS) business segment.
Medifox Dan offers solutions similar to those already belonging to the company’s leading U.S. SaaS brands. Those brands include MatrixCare and Brightree.
The company intends to retain Medifox Dan’s employees, locations, and business processes. It plans for Medifox Dan to report to ResMed SaaS President Bobby Ghoshal.
The software-as-a-service segment accounted for the majority of the healthcare cloud computing market in 2021.
SaaS solutions continue to dominate the healthcare industry and are predicted to experience a consistent growth rate in the healthcare industry due to cost, security, and scalability benefits.
Researchers from Zion Market Research have recently valued the global healthcare cloud computing market at approximately US$18 billion.
They expect the market to generate around US$61 billion by 2025, at a CAGR of around 18.7% between 2019 and 2025.
The USA is the world’s largest SaaS market, while China boasts the fastest growth rate.
According to an article by Accenture, healthcare providers are embracing ‘Software as a Service’ (SaaS) model more after the pandemic challenged them to adapt and innovate like never before.
Sixty-six percent of them expect to move their technology infrastructures to the cloud this year – a number that is set to rise to 96 percent by 2024.
Through SaaS, healthcare systems are beginning to unlock clinical and operational insights at scale while moving up innovation cycles for continuous value delivery.
The pandemic created a new urgency for healthcare providers to expand their virtual care offerings and the way of connecting with patients beyond the walls of the hospital.
Cloud adoption is growing in importance for broadening the role of IT operations, ensuring data security, and improving the overall patient experience.
Though cloud adoption in the industry is slow and underappreciated, many forward-thinking healthcare organizations are beginning to embrace the cloud.
Channeling cloud computing power into the healthcare system will undoubtedly result in significant advances in quality and affordable healthcare for all.
For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.
