ResMed Inc. (RMD)

ResMed Inc. (NYSE: RMD) is the global leader in Sleep & Respiratory Care devices and services — the company behind CPAP machines, masks, and digital health platforms for obstructive sleep apnea (OSA) and chronic respiratory disease patients. But the biggest news this week isn't a new product — it's how ResMed is reshaping its entire business portfolio.

On July 8, 2026, ResMed announced it would sell its MatrixCare software business to private equity firm Frazier Healthcare Partners for $490 million in cash, with closing expected in Q1 FY2027. MatrixCare (including Healthcare First and Citus) is software serving 15,000+ providers across skilled nursing, senior living, home health, and hospice — a business generating roughly $220 million in revenue and $55 million in operating profit (a ~25% margin) this year, but one whose growth has lagged the company average.

At the same time, ResMed just completed its acquisition of Noctrix Health for up to $340 million on June 3, 2026 — bringing in the TOMAC therapy platform for Restless Legs Syndrome (RLS), an FDA De Novo-classified device. CEO Mick Farrell described RLS as a category with “meaningful overlap with our core market of obstructive sleep apnea.”

Business Segment Breakdown

• Sleep and Respiratory Care (core): devices, masks, and accessories — US/Canada/LatAm grew 11%, Europe/Asia/rest of world grew 6% (constant currency). This remains the company's primary growth engine.
• Software as a Service (Residential Care Software): grew 5% (cc), the slowest-growing segment — and the larger part of it (MatrixCare) is now being divested. Brightree (software for HME, pharmacy, and home infusion providers) will remain post-transaction.

Bottom line: ResMed is sharpening its focus on what it does best — sleep/respiratory devices and the connected home-care ecosystem — while shedding a less-differentiated long-term-care software adjacency.

Shariah Compliance Status

✅ SHARIAH COMPLIANT — ResMed is confirmed Shariah-compliant per the US stock reference list, making it a suitable candidate for investors who prioritize Shariah-compliant investments.

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