ZOLL Medical Corporation signs final agreement to acquire Itamar Medical

The acquisition of a home sleep apnea diagnostic solution provider will enable ZOLL to better serve undiagnosed and untreated heart disease patients

Chelmsford, Massachusetts and Caesarea, Israel--(BUSINESS WIRE)--ZOLL® Medical Corporation is an Asahi Kasei company that produces medical devices and related software solutions. Medical equipment and digital health company Itamar™ Medical Ltd. (Nasdaq and TASE: ITMR), a medical device and digital health company that integrates sleep apnea diagnosis into the care path of heart patients, announced that they have signed a definitive agreement. According to the agreement, ZOLL Medical will acquire all common shares of Itamar Medical at a total value of approximately US$538 million.

Itamar Medical focuses on the development and commercialization of non-invasive medical devices and solutions to help diagnose breathing and sleep disorders. The company took the lead in launching the WatchPAT® home sleep apnea diagnostic device, an innovative sleep apnea diagnostic solution for patients and medical professionals. The WatchPAT device has passed the U.S. Food and Drug Administration (FDA) certification and continues to be recognized as a safe and effective home test method for sleep apnea.

Studies have shown that there is a complex interrelationship between cardiovascular disease and obstructive sleep apnea (OSA) and central sleep apnea (CSA). OSA is related to the occurrence and development of coronary heart disease, heart failure, stroke, and atrial fibrillation, while CSA related to tidal breathing (Cheyne-Stokes respiration) can predict the occurrence of heart failure and atrial fibrillation, and can significantly predict the development of heart failure patients Mortality 1.

Jon Rennert, CEO of ZOLL Medical, said: "ZOLL Medical is committed to improving the outcomes of patients with severe cardiopulmonary disease who are underserved. It is estimated that 60% of patients with cardiovascular disease currently suffer from some form of sleep disordered breathing. , And most of these patients have not been diagnosed. 2. The merger of ZOLL Medical and Itamar Medical will help more patients receive the diagnosis and treatment of sleep disordered breathing. We look forward to helping strengthen the cooperation between the fields of cardiology and sleep medicine ."

Gilad Glick, President and CEO of Itamar Medical, said: "We are delighted to join ZOLL Medical. ZOLL Medical is a leader in meeting the needs of cardiologists and their patients. Itamar's WatchPAT® technology and digital health solutions for sleep apnea Combining with the commercial influence of ZOLL Medical will accelerate our mission of advancing home sleep diagnosis and treatment to benefit the vast number of undiagnosed and untreated patients."

Itamar Chief Financial Officer Shy Basson said: "We believe that this transaction is in the best interests of Itamar's stakeholders."

ZOLL Medical has a long history of using innovative technologies to improve the lives of patients, including multiple monitoring solutions that assist in the diagnosis and management of heart disease patients. In April 2021, ZOLL Medical acquired Respicardia, the manufacturer of the remedē® system, the only implantable device approved by the FDA for the treatment of adult patients with moderate to severe CSA3.