ResMed announces Inova Labs acquisition

ResMed has agreed a deal to acquire the privately-held medical device company Inova Labs for an undisclosed fee.

Specialising in the development and commercialisation of innovative oxygen therapy products, the Texas-based Inova Labs sells long-term oxygen therapy solutions for the treatment of chronic obstructive pulmonary disease (COPD).

Its portfolio includes LifeChoice Activox, a lightweight, portable oxygen concentrator offering extended battery life for freedom and mobility, and Activox DUO2, which is the industry's first fully-integrated stationary and portable oxygen concentrator system.

This will complement ResMed's current respiratory care offerings and will give the firm a better position in the oxygen therapy field, the largest non-drug delivery medical device segment for the treatment of COPD.

Mick Farrell, chief executive officer of ResMed, said: "ResMed is delivering on its commitment to find further ways to improve the quality of life for tens of millions of people as they deal with COPD."

This comes after the firm purchased CareTouch and Jaysec last year.