The ResMed Inc (ASX: RMD) share price is under the spotlight after the company announced it had sold its MatrixCare software segment.
ResMed provides investors with devices and software that help with breathing and sleep apnea.
MatrixCare software sale
ResMed has entered into an agreement to sell its MatrixCare business to Frazier Healthcare Partners, which is a private equity outfit that focuses exclusively on healthcare. The sale price is $490 million, all cash.
Based on preliminary figures for FY26, the MatrixCare business represented approximately $220 million of revenue and approximately $55 million of underlying operating profit.
ResMed noted that in addition to the MatrixCare business-related considerations, ResMed’s recently completed the Noctrix acquisition which is expected to add approximately $30 million of revenue and reduce underlying earnings per share (EPS) by approximately $0.20 in FY27.
ResMed still owns the other software businesses Brightree in the US and MEDIFOX DAN in Germany.
The ASX healthcare tech share expects its residential care software (RCS) segment to accelerate to high single-digit percentage year-over-year revenue growth, along with operating leverage, in FY27. It will provide outlook commentary on 6 August 2026 when it releases its FY26 fourth quarter update.
Management comments
The ResMed CEO and Chair Mick Farrell said:
Today’s announcement is about our disciplined approach to portfolio management and our commitment to driving long-term growth.
By focusing on areas where we see the greatest opportunity 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. We are confident MatrixCare and its affiliated businesses will continue to support team members and drive growth under new ownership with a dedicated focus on the long-term care market.
Final thoughts on the ResMed share price
The ASX healthcare tech share said this move reflects its 2030 strategy by focusing on high-growth, scalable opportunities in sleep health, breathing health and connected home-based healthcare.
The asset sale also strengthens the company’s ability to reallocate capital and resources towards “innovation, operational scale and long-term value creation across its connected, home-based care ecosystem”.
The ResMed share price is down around 30% since August 2025, so it’s still a lot cheaper than it was even if it’s significantly off its lows earlier this year.
It could be an underrated buy, though there are other names that could be an even better buy.
