Dr. Oz, ResMed Launch Medtech Firm SleepScore Labs
Published: Jan 09, 2017
LAS VEGAS, Jan. 6, 2017 /PRNewswire/ -- The world is about to find out how well it really sleeps and how to sleep better thanks to SleepScore Labs, a new company focused on helping people understand and improve their sleep.
SleepScore Labs is a joint venture between renowned surgeon and television host Dr. Mehmet Oz; ResMed (NYSE:RMD), the global leader in medical devices and digital connected care; and private equity firm Pegasus Capital Advisors, L.P., which invests in companies focused on sustainability and wellness.
The new venture combines ResMed's 28 years of leadership, research and development in consumer and medical devices and technologies for sleep monitoring, coaching and patient engagement with Dr. Oz's consumer health and wellness audience to create a pivotal player in the consumer sleep market, which is estimated to be $80.8 billion by 2020.
SleepScore Labs' initial focus is to compile and analyze the most comprehensive and accurate collection of consumer sleep data on the planet, starting with its landmark national sleep study on SleepScore.com. During today's panel discussion, "Confronting the Sleep Epidemic Head-On" at the CES Digital Health Summit (2:30pm ET/11:30am PT), Dr. Oz and ResMed will share insights from more than one million nights of sleep data collected to determine America's SleepScore.
Dr. Oz, a long-time advocate for the importance of sleep in health and wellness, was compelled by ResMed's proven sleep monitoring technology for consumers, the S+ by ResMed, and by the company's commitment to helping people better understand their sleep so they can lead more productive, healthier and happier lives. The S+ is the world's first non-contact sleep tracker and smartphone app. It uses bio-motion sensors to measure an individual's sleep quality and bedroom environment, delivering personalized feedback to help people track and improve their sleep.
"I've learned in my time as a public health teacher, advocate, television host and physician that the current standard of sleep quality in America is drastically unacceptable," said Dr. Oz. "We pay so much attention, especially at this time of year, to making resolutions about diet and exercise. It's high time we pay more attention to sleep."
"The statistics on sleep disorders are staggering," Dr. Oz said. "More than 70 million Americans suffer from a sleep disorder. Drowsy driving is responsible for thousands of fatal crashes a year. The list goes on and on. ResMed has the technology to help us measure, understand and educate people who are struggling with sleep. We know if people have the right tools, they will be able to improve their sleep and overall health. I believe in the importance of this so much and am excited about this new venture and partnering with ResMed to solve the epidemic of sleeplessness."
"When ResMed launched the S+ for consumer sleep monitoring, and made 100 percent of our sleep devices cloud connected, we led the market in the development of connected health tools," said Mick Farrell, ResMed CEO. "We introduced a new phase of sleep research and sleep understanding that helps improve the health of millions of patients as well as business efficiency for their healthcare providers. Our conversations with Dr. Oz have confirmed the strong alignment between our mission and his vision. With SleepScore Labs, we have an opportunity to educate and inspire millions more to improve their sleep."
SleepScore Labs will also license SleepScore by ResMed technology for other consumer sleep devices, to upgrade their tracking capabilities and improve their products. The new venture has already signed R&D contracts with several global leaders, including LED powerhouse Lighting Science Group, which plans to leverage SleepScore technology to quantitatively measure the effectiveness of its GoodNight LED pre-sleep bulb.
"Diet, exercise and sleep are the pillars of our health," said Colin Lawlor, CEO SleepScore Labs. "For decades, people have measured their diet and exercise whether by counting calories or counting the number of steps they take each day. In recent years, we've seen a lot more public focus on the importance of sleep, but there hasn't been a widely available, clinically proven standard for measuring sleep. That's about to change. SleepScore will be the established standard for how we measure and talk about sleep, and SleepScore by ResMed is the proven technology to enable and drive the conversation."
Dr. Oz's role at SleepScore Labs will include:
- SleepScore Labs, brand ambassador and liaison to patients
- Board member and adviser, bringing his insight to future products and programs
- Co-owner, making an equity investment in SleepScore Labs
Colin Lawlor is CEO of SleepScore Labs. Previously, Lawlor was ResMed's vice president of consumer programs, where he spearheaded the team that developed the S+ and brought it to market.
ResMed is an equity partner. The company is licensing the SleepScore by ResMed technology to SleepScore Labs to develop and extend into additional products and relationships.
Pegasus Capital Advisors, L.P. is an equity partner. The company brings expertise and experience in developing and scaling business ventures, along with an influential network of global leaders in the health and wellness arena.
SleepScore Labs will be based in Carlsbad, California.
About S+ by ResMed
For more information about the S+ by ResMed technology, refer to this fact sheet.
About the SleepScore Campaign
For more information on the "One Million Nights" campaign to find out America's SleepScore, visit www.sleepscore.com
ResMed (NYSE:RMD) changes lives with award-winning medical devices and cutting-edge cloud-based software applications that better diagnose, treat and manage sleep apnea, chronic obstructive pulmonary disease (COPD) and other chronic diseases. ResMed is a global leader in connected care, with more than 2 million patients remotely monitored every day. Our 5,000-strong team is committed to creating the world's best tech-driven medical device company improving quality of life, reducing the impact of chronic disease, and saving health care costs in more than 100 countries.
ResMed.com | Facebook | Twitter | LinkedIn
About Pegasus Capital Advisors, L.P.
Pegasus Capital Advisors, L.P. is a private equity firm founded and led by Craig Cogut. Since inception in 1996, Pegasus has invested across five private equity funds and currently manages approximately $1.7 billion in assets. The Firm's principal investment theme is providing strategic growth capital to companies within the middle-market focused on sustainability and wellness.
Caution Concerning Forward-Looking Statements:
This communication contains "forward-looking" statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. All statements, other than historical facts, including but not limited to statements regarding the benefits of the anticipated joint venture, the efficacy of the S+ device, the SleepScore Labs sleep database and position of SleepScore Labs in the marketplace, and any assumptions underlying any of the foregoing, are forward-looking statements.
Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "could," "project," "predict," "continue," "target" or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to known and unknown risks, uncertainties and assumptions. Should one or more of these known or unknown risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. You are urged to consider all risks, uncertainties and other factors carefully in evaluating any forward-looking statements contained in this communication.
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SOURCE ResMed Inc.