Frazier Healthcare Partners announced Tuesday that it has entered into a definitive agreement to acquire MatrixCare, a cloud-based electronic health record (EHR) provider, from health tech company ResMed.
The healthcare private equity firm plans to acquire MatrixCare for $490 million in an all-cash transaction, according to a filing by ResMed with the U.S. Securities and Exchange Commission. The agreement includes MatrixCare and related software products sold under its brand, such as Healthcare First and Citus.
MatrixCare is a subsidiary of Resmed, a healthcare technology company that provides solutions to more than 15,000 providers in skilled nursing, senior living, long-term care, life planning communities, home health, and hospice care.
“Frazier has spent several years evaluating the post-acute care technology space and believes MatrixCare is positioning itself as a leading platform serving skilled nursing, senior living, home health and hospice providers,” Frazier Healthcare Partners general partner Ryan Lucero said in a statement. “We are excited to partner with the MatrixCare team and plan to aggressively invest in product innovation to help healthcare providers deliver better outcomes as the post-acute care landscape continues to evolve,” added Clarissa Berman, principal at Frazier Healthcare Partners.
Executives said the transaction reflects ResMed’s 2030 strategy to focus on high-growth, scalable opportunities in sleep health, connected home-based healthcare and respiratory health. It will also strengthen the company’s ability to reallocate capital and resources towards innovation in the home healthcare ecosystem.
Mick Farrell, ResMed’s CEO and chairman, said in a statement that the move is “about our disciplined approach to portfolio management and our commitment to driving long-term growth.”
“By focusing on the areas where we see the greatest opportunities for sleep health innovation and impact, we are strengthening our ability to deliver life-changing health technologies, improve patient outcomes and create value for our stakeholders,” Farrell said. “We are confident that MatrixCare and its affiliates will continue to support our team members and drive growth with a focus on the long-term care market under new ownership.”
The transaction is expected to close in the third quarter of 2026 and is subject to customary closing conditions, including regulatory and shareholder approvals.
