ResMed Inc (ASX: RMD) – ResMed Files 2024 Annual Report

ResMed announced a significant portfolio shift in its recently filed annual report. The company agreed to sell its MatrixCare business for $490 million in cash, marking a strategic narrowing toward sleep and breathing health solutions. The transaction announced June 30, 2026, is expected to close in the first quarter of fiscal 2027 and reflects management’s commitment to portfolio optimization by divesting care management software to sharpen focus on core growth areas.

The MatrixCare portfolio includes electronic health record software used by skilled nursing, senior living, and home health providers across the United States. The business also encompasses related offerings under the Healthcare First, Citus, and home health and hospice brands. MatrixCare has represented approximately 12% of ResMed’s net revenue alongside Brightree and MEDIFOX DAN, the company’s other residential care software offerings. By exiting MatrixCare while retaining Brightree and MEDIFOX DAN, ResMed is signaling that only those care software businesses directly supporting sleep, breathing, and connected home healthcare align with its future direction.

The divestiture sits alongside two strategic acquisitions that demonstrate ResMed’s expansion into adjacent areas. In June 2026, the company acquired Noctrix Health, a company with an FDA De Novo classified wearable device for treating restless legs syndrome, expanding beyond obstructive sleep apnea into related sleep disorders. Earlier, in 2025, ResMed acquired VirtuOx, an independent diagnostic testing facility offering home and remote testing services for sleep, respiratory, cardiac, and other conditions across the United States. These moves extend ResMed’s ability to offer end-to-end solutions from diagnosis through treatment and monitoring.

ResMed’s core market remains substantial with meaningful clinical support. The company reported approximately 35 million patients using cloud-connected devices on its AirView platform and over 12 million registered on myAir, its digital patient engagement application. Clinical research cited in the filing found that positive airway pressure therapy was associated with a 37% reduction in all-cause mortality and a 54% reduction in cardiovascular mortality compared with no therapy, supporting the clinical case for broader diagnosis and treatment. The company operates in over 140 countries with approximately 11,370 employees.

Revenue remains concentrated within sleep and breathing health. Devices account for 51% of net revenues, masks and diagnostics for 37%, and residential care software for 12%. ResMed describes its strategy as building an integrated, intelligent digital health ecosystem centered on home-based care, leveraging its installed base and data advantage to enable personalized, efficient outcomes.

Investors should monitor whether the MatrixCare sale closes on schedule and at the anticipated price, as well as how management deploys the $490 million in proceeds. The successful integration of Noctrix and VirtuOx into core sleep and breathing operations will shape whether the portfolio narrowing accelerates growth in ResMed’s core segments and strengthens its position in an underpenetrated global sleep health market.

View the full ASX announcement (PDF)

About ResMed Inc (ASX: RMD)

ResMed Inc develops and manufactures medical devices and cloud-based software for diagnosing, treating, and managing respiratory disorders including sleep apnea, chronic obstructive pulmonary disease, and neuromuscular disease. The company supplies flow generators, masks, and accessories globally, with the majority of revenue derived from operations in the Americas. ResMed also pursues digital health initiatives and acquisitions to enhance clinical data offerings for patients, healthcare providers, and payers in out-of-hospital settings.

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