BiancaMed Ltd, a company that lined up as a finalist in the inaugural Science|Business Academic Enterprise Awards, ACES, in 2008, has now been acquired by ResMed Inc. a developer, manufacturer and distributor of medical equipment for treating, diagnosing and managing sleep-disordered breathing and other respiratory disorders, in an all-cash deal. The price was not disclosed.
Since it was spun-out of University College Dublin in 2003, BiancaMed has developed and commercialised SleepMinder, a non-contact device to monitor sleep and breathing in the home and hospital. This is an accurate, touch-free device that measures sleep and breathing using biometric software.
The core of BiancaMed’s proprietary technology is a motion sensor that can detect respiration and movement without physical contact with the human body. The company is developing other applications for the technology, across a range of medical and consumer settings.
BiancaMed will become a part of San Diego-based ResMed’s Ventures and Initiatives unit. “We are committed to innovation in sleep and respiratory medicine and the related co-morbidities by commercialising products incorporating novel technologies,” said Peter Farrell, ResMed’s chairman and chief executive officer. “We have worked closely with BiancaMed for many years and have been investors since their inception in 2003. We believe there are many opportunities for BiancaMed’s applications that will provide future growth, and we look forward to maintaining and building the BiancaMed team.”
Conor Hanley, BiancaMed’s chief executive officer, said, “This acquisition will broaden the use of BiancaMed’s unique technology and build on BianceMed’s momentum.”
ResMed Ventures and Initiatives was set up in May of this year, to focus on opportunities in chronic disease states related to sleep-disordered breathing and other market opportunities.
BiancaMed was co-founded in 2003 by Philip de Chazal, Conor Hanley and Conor Heneghan, to commercialise research carried out at University College Dublin’s School of Electrical, Electronic and Mechanical Engineering. The company is headquartered in NovaUCD, the Innovation and Technology Transfer Centre, and currently employs 29 people.
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