A Brentwood-based health tech company has been purchased by a home health information technology subsidiary of ResMed, the public company with a market value of more than $20 billion.
Terms of the transaction between SnapWorx and Atlanta-based Brightree were not disclosed. The local 40-employee team will join Brightree’s 600-person network and SnapWorx President Emmet Seibels will continue to lead the division.
SnapWorx provides intelligent workflow technology for home medical equipment providers servicing continuous positive airway pressure, a sleep apnea therapy, resupply patients. Their solutions focus on patient engagement and automating the tedious paperwork required for dispensing and billing CPAP supplies.
The addition of Snapworx makes Brightree the most extensive CPAP resupply patient base in the industry, according to a press release. ResMed bought Brightree in the spring of 2016; it is part of the software segment of ResMed that last year produced $74.9 million in operating profits on revenues of $281 million.
“Brightree is a proven leader in the HME industry, serving thousands of customers and millions of patients,” Seibels said in the release. “We’re excited to join the market leader in enabling opportunities for our customers, deliver better patient care, and to grow and strengthen our own business and technology.”
Seibels is also the president and CFO of health care supply company Verus Healthcare.