ResMed has agreed to sell MatrixCare, its home-health and senior-care software business, to the private equity firm Frazier Healthcare Partners for $490m in cash. The deal lets the medical-device maker part with a unit it had owned for years to focus on the machines that remain its core.
MatrixCare is a decent-sized business in its own right, bringing in about $220m of revenue in ResMed’s 2026 fiscal year and roughly $55m of non-GAAP operating profit. The sale sits alongside a wider wave of software carve-outs, echoing deals such as Ametek’s purchase of Indicor’s instrumentation businesses, where buyers pick up mature units their sellers no longer see as central.
The transaction covers MatrixCare and the software historically sold under that brand, including HealthcareFirst and Citus, along with ResMed’s home-health and hospice offerings. It leaves out two businesses the company is keeping, its US-based Brightree unit and MEDIFOX DAN in Germany.
For Frazier, a healthcare-focused investor, the appeal is a profitable software provider embedded in the growing market for home and post-acute care. Those systems sit at the administrative heart of how care providers schedule visits, manage records and get paid.
