Resmed has closed its $340 million acquisition of Noctrix Health, picking up a wearable neuromodulation device that pushes the sleep tech giant beyond its core sleep apnea and respiratory care businesses.
The deal brings Noctrix’s Nidra Tonic Motor Activation therapy into Resmed’s portfolio. The FDA De Novo-classified device is designed to treat adults with moderate-to-severe restless legs syndrome who have not gotten enough relief from medication.
Nidra delivers noninvasive stimulation to the peroneal nerves in the legs, aiming to reduce symptoms and improve sleep quality without adding another drug to a patient’s regimen. Resmed described restless legs syndrome as the third-most prevalent sleep disorder, behind insomnia and obstructive sleep apnea.
The acquisition was first announced during Resmed’s fiscal third-quarter earnings call in April and closed June 1. Noctrix is now a wholly owned subsidiary of Resmed.
“Our acquisition of Noctrix Health marks an important step forward in advancing our 2030 strategy and expanding our clinical sleep health portfolio,” Mick Farrell, chairman and CEO of Resmed, said in a June 1 statement.
For Resmed, the deal adds an adjacent sleep disorder offering to a business long built around CPAP machines, masks, ventilators and connected respiratory care. The company said it plans to integrate Noctrix’s technology into its connected devices and digital health offerings, with the goal of expanding access and improving care pathways over time.
The acquisition also marks the first portfolio company exit for Angelini Ventures, which invested in Noctrix in 2024 as part of a $40 million series C round. That financing also included Resmed, Sectoral Asset Management, Asahi Kasei Corp., OrbiMed and Treo Ventures, with Noctrix saying at the time that the money would support the U.S. commercialization of Nidra.
Noctrix has spent the past few years building the clinical and regulatory case for Nidra. In addition to the FDA De Novo classification, the company has pointed to peer-reviewed data and inclusion in American Academy of Sleep Medicine clinical practice guidelines as signs of growing support for the therapy.
The buyout fits into a longer-running Resmed strategy of expanding the home-based and digitally connected edges of its business. In 2018, Resmed acquired Propeller Health in a $225 million deal that added cloud-connected inhaler technology for asthma and COPD. More recently, Resmed has continued to broaden its sleep apnea lineup, including the U.S. launch of its AirCurve 11 bilevel device as another respiratory support option for patients beyond traditional CPAP therapy.
The Noctrix deal gives Resmed a way to reach sleep physicians and patients through a condition that overlaps with, but is distinct from, obstructive sleep apnea. It also brings Resmed further into wearable therapeutics, a space where medtech companies are increasingly trying to turn connected devices into long-term disease management platforms.
The next test will be whether Resmed can use its existing sleep medicine relationships, home care channels and digital infrastructure to scale Nidra beyond its startup launch phase.
