"The deal facts
Pharma giant Pfizer aims to acquire ResApp Health, a company that developed smartphone-based diagnostic technology for respiratory diseases.
Pfizer is offering $74 million for the publicly-listed Australian company. ResApp’s directors have unanimously recommended that its shareholders vote in favor of the scheme of arrangement.
ResApp Health’s smartphone-based acute respiratory disease diagnostic test is used in emergency departments, telehealth, and primary care settings.
The company claims to be able to diagnose COVID-19 by listening to the sound of a cough. In March, ResApp reported positive results from clinical trials of its new cough audio-based COVID-19 screening test.
Relative to sales of COVID-19 vaccines and drugs, the purchase price is tiny. Pfizer is expected to generate $24.2 billion in sales of the oral COVID drug Paxlovid and $29.7 billion in sales of the COVID vaccine in 2022 alone. That is more than half of their total estimated 2022 sales of $101.3 billion.
Our takeaways
Every startup acquisition by established healthcare players is exciting. Each one offers a glimpse into the buyer’s strategic direction..."
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Pfizer's bid for ResApp illustrates what’s going on in MedTech
MEDTECHPULSE, 20/04/2022
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