San Diego-based ResMed has closed its $340 million acquisition of Noctrix Health, adding a noninvasive treatment for restless legs syndrome to its growing portfolio of sleep and respiratory care products. The deal, which ResMed disclosed during its third-quarter earnings call in April, gives the company control of Noctrix’s FDA-authorized Nidra device.
Nidra received de novo authorization from the Food and Drug Administration in 2023 for a device that noninvasively stimulates nerves to treat RLS — a condition affecting approximately 17 million people in the United States. Noctrix published clinical data in 2023 showing a 45 percent response rate after four weeks, compared with 16 percent for sham treatment, rising to 61 percent in an open-label extension.
ResMed CEO Mick Farrell said the acquisition was driven by significant overlaps between Noctrix’s physician and distribution channels and ResMed’s existing sleep business. RLS prescriptions are predominantly written by sleep physicians — the same specialists who prescribe ResMed’s CPAP, APAP, and bilevel therapies. Nidra also flows through the same home and durable medical equipment delivery channels ResMed already uses.
Farrell characterized current RLS drug therapies as problematic, noting that dopamine agonists — the most commonly used first-line treatment — can worsen symptoms over time and that no drugs are approved for second-line use. He called the opportunity for Nidra “huge” and predicted ResMed could scale the device faster than Noctrix could independently by leveraging its market access and reimbursement capabilities.
Noctrix had an annual revenue run rate of approximately $24 million at the time of acquisition, with growth rates and gross margins exceeding ResMed’s corporate averages. ResMed said it will invest in R&D, sales, and marketing to support Nidra’s growth, reflecting the device’s early lifecycle stage.
The acquisition reinforces San Diego’s position as a hub for sleep and respiratory medicine technology, with ResMed remaining one of the region’s most prominent medical device companies.
Sources: MedTech Dive, ResMed Newsroom
