HILDESHEIM, GERMANY: Hg, a leading software and services investor, announced the sale of MEDIFOX DAN, a leading provider of digital solutions for the German care and therapy sectors, to ResMed, a global leader in cloud-connected medical devices and out-of-hospital software-as-a-service (SaaS) business solutions, in a transaction valuing the business at an enterprise value of around US $1 billion.

Founded in 1994 and headquartered in Hildesheim, Germany, MEDIFOX DAN is a leading provider of software solutions and services to care and therapy providers. Its core offering comprises digital solutions for resource and route planning, care planning & documentation, administration, and billing, as well as factoring and hosting services.

The group has more than 600 employees across eight locations in Germany. More than 300,000 caregivers trust in the innovation and quality delivered by one of the largest R&D teams in the industry.

Under the leadership of Dr. Thorsten Schliebe and Christian Städtler and with support from Hg, MEDIFOX DAN has demonstrated an impressive evolution, continuously expanding its product & services offering, entering attractive new segments, strengthening the wider management team, investing into a state-of-the-art system landscape and digital sales capabilities as well as driving strategic acquisitions.

MEDIFOX DAN has also just announced the launch of its new cloud-ready software generation PROXIMA – combining the best of both worlds of MEDIFOX and DAN.

ResMed is a world-leading digital health company. Its pioneering cloud-connected medical devices and out-of-hospital software solutions have transformed care for over 137 million people globally. ResMed is also a leader in mission-critical enterprise software and services for the out-of-hospital care sector, serving homecare provider, stationary and ambulatory care equivalent sectors in the United States.

By joining forces through an acquisition of MEDIFOX DAN, ResMed expands its SaaS business footprint outside the U.S. and will be uniquely positioned to accelerate the digital transformation of care in Germany.

Dr. Thorsten Schliebe and Christian Städtler, Co-Managing Directors of MEDIFOX DAN, said: “MEDIFOX DAN cares about the people who care for people. We think partnering with ResMed, one of the leaders of our sector, is a unique opportunity to deliver upon that promise and on a much wider scale. We are excited to take this next step of the journey together and to continue delivering the best solutions and innovation to our clients. We want to thank the Hg team for sharing our entrepreneurial vision and offering their relentless support over the last few years, helping MEDIFOX DAN to become the best version of this vision.”

Stefan Margolis and Benedikt Joeris, both Partners at Hg, said: “It has been a great journey and partnership with Thorsten, Christian and the whole MEDIFOX DAN team. We had long-recognised MEDIFOX as a high-quality software business, providing crucial services to integrated care. Together we have significantly further expanded MEDIFOX DAN’s offering through continued product investment, including nine acquisitions. ResMed, who we’ve known for many years, will be a great home to continue that innovation journey, enabling care givers to focus on people and patients.”

“With the acquisition of MEDIFOX DAN, a fast-growing and innovative German healthcare software leader, we will expand ResMed’s SaaS business portfolio outside our current base in the U.S. and strengthen our position as a global leader in healthcare software solutions for lower-cost and lower-acuity care” said ResMed CEO Mick Farrell.

“We are excited to welcome the MEDIFOX DAN team to our global ResMed family: Our management cultures are highly aligned with a laser-focus on lowering costs, improving outcomes, and changing the course of chronic disease management. MEDIFOX DAN has a strong track record of innovation, fully aligned with our teams at Brightree, MatrixCare, and beyond.

MEDIFOX DAN’s customer centricity has built strong and ongoing, growing demand for its software solutions across Germany, and we expect that momentum to continue and strengthen as we become one global team. Our MEDIFOX DAN and ResMed teams are united with the same global mission: to help many hundreds of millions of people live healthier lives outside the hospital, and preferably in their own home.”

HgCapital Trust plc, whose shares are listed on the London Stock Exchange (ticker: HGT.L), gives investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the software and services sector.