The Ontario Municipal Employees Retirement System’s private equity arm is selling MatrixCare Holdings Inc., a health-care technology company, to ResMed Operations Inc. for about $982 million.

“We first acquired MatrixCare as part of a larger acquisition in 2010,” said Mark Van Wart, managing director of OMERS Private Equity, in a press release. “Since bringing John Damgaard in as CEO in 2012, OMERS has worked with John and the company to enhance its ability to serve customers across the [long-term and post-acute care] continuum. Throughout our collaboration with MatrixCare, we proudly supported growth investments through acquisitions and the development of new products.”

Read: OMERS appoints new manager of pension policy

Based in Minneapolis, Minn., the company provides technology supporting long-term patient care for both in-home and in-care facility use. The transaction is expected to wrap up in the last quarter of 2018.

“Matrixcare is OMERS third portfolio company sale in 24 months, following the sales of Husky Injection Molding and Civica last year,” said Michael Graham, head of North America for OMERS Private Equity. “All three transactions have generated strong income toward our core commitment of delivering stable and sustainable pensions for OMERS members. While we announce this additional successful exit today, we of course continue to focus on advancing our strategy of investing in companies with solid business fundamentals, strong management teams and opportunities to grow both organically and through acquisitions.”

Read: OMERS acquires U.S. medical manager, Caisse takes on office venture

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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