ResMed buys German firm

MEDTECH: Deal Boosts Sleep Portfolio

ResMed has acquired mementor, a Leipzig, Germany-based private firm that’s developed a digital therapy for insomnia delivered via an app.

The deal was completed Aug. 1.

Financial terms of the transaction were not disclosed.

With the latest acquisition, ResMed strengthens its overall sleep portfolio in Germany.

On Wall Street, investors responded favorably to the deal, sending ResMed’s stock higher by nearly 5%.

RMD is trading near the middle of its 52-week range ($190 - $300) around $250 a share. In 2013, when CEO Mick Farrell took the helm at ResMed, shares were trading at $50.

EU Origins

Mementor was founded in Switzerland in 2014. In 2020, the firm relocated to Germany.

The company developed the digital insomnia therapy solution somnio, which is Germany’s first and only permanently approved Digital Health Application (DiGA) in the field of sleep medicine – and thus eligible for reimbursement by the health care system in Germany.

In Germany, approximately 1 in 10 people are said to be affected by clinically relevant insomnia while nearly 3 in 10 people have sleep apnea.

Currently only a small percentage of those affected receive the cognitive behavioral therapy for insomnia (CBT-I) recommended in Germany.

“somnio closes a gap in the care of insomnia patients and complements ResMed’s efforts to increase both awareness of this disease and access to effective home treatments,” stated a company release issued along with the acquisition announcement.

Company officials say mementor can leverage ResMed Germany’s broader network to increase adoption of its approved digital therapy alternative for insomnia.

Positive Studies

somnio is available today in Germany via “app on prescription.” All German health insurance companies cover patient costs for somnio upon presentation of a prescription.

The clinical effectiveness of somnio has been demonstrated in two randomized controlled trials, showing a sustained improvement in users’ sleep after two and twelve months.

Katrin Pucknat, president at ResMed Germany, said, “mementor is an ideal fit for ResMed Germany and, more important, millions of people across Germany who want to improve their sleep and overall health.”

“The founders [of mementor] have identified a large and neglected area of healthy sleep with an opportunity to help millions of people solve their chronic sleep issue with an easy-to-use digital at-home solution,” Pucknat added. “We look forward to working with the team at mementor to help even more people in Germany achieve good, healthy sleep.” The company said it plans to integrate mementor into ResMed in Germany as a separate business segment. mementor also will serve as a platform for further developments in the field of digital health.

The business segment will be co-led by mementor co-founder and CEO Dr. Noah Lorenz and Katherina Jekerle, who was previously ResMed Germany’s senior marketing director and member of the German leadership team.

“I am very much looking forward to working with the mementor team on further innovating digital solutions and helping more people suffering from insomnia with a digital therapy approach,” said Jekerle. “In doing so, we at ResMed Germany are committed to maintaining the start-up agility and creativity of the teams and support the brand as it continues to grow.”

“Joining forces with ResMed brings us a big step closer to our vision of helping people get a good and healthy night’s sleep,” said Lorenz. “I am excited to have found a perfect fit in ResMed, with whom we can work together to give more people access to somnio and develop further digital solutions.” ■