Resmed closed its $340 million acquisition of Noctrix Health on June 1, 2026, four weeks after signing the merger agreement. Noctrix, based in Pleasanton, California, becomes a wholly owned subsidiary.
Noctrix sells Nidra, a pair of wearable units that stimulate the peroneal nerves to produce sustained muscle activation in the legs. It treats moderate to severe restless legs syndrome in adults whose medication has stopped working. FDA granted the De Novo, DEN220059, in 2023; CMS issued dedicated HCPCS codes and payment amounts in October 2024; the American Academy of Sleep Medicine put the therapy in its restless legs guidelines.
Resmed had been an investor before it was a buyer, joining Noctrix's $40 million Series C in 2024 alongside Angelini Ventures, Sectoral Asset Management, Asahi Kasei, OrbiMed and Treo Ventures. Resmed CEO Mick Farrell said the target's revenue growth rate and gross margin both run above Resmed's own.
The path is the one every neuromodulation startup draws on a slide and few finish: De Novo, then a payment code, then a guideline mention, then an exit. Noctrix took about three years from authorization to close.