By: IPP Bureau
Last updated : June 04, 2026 5:46 pm
Following the completion of the acquisition on June 3, Noctrix’s flagship product, Nidra will become part of ResMed’s broader sleep medicine portfolio
Sleep and respiratory care company ResMed has acquired medical technology firm Noctrix Health in a deal valued at $340 million.
This marks the first portfolio company exit for Angelini Ventures, the venture capital arm of Italian multinational Angelini Industries.
Angelini Ventures invested in Noctrix Health in 2022 as part of the company's $40 million Series C financing round. The acquisition underscores growing investor interest in innovative, non-pharmacological therapies for sleep-related disorders.
Noctrix’s flagship product, Nidra, is a tonic motor activation (TOMAC) therapy designed to non-invasively treat symptoms of restless legs syndrome (RLS) in patients who have not responded adequately to pharmaceutical treatments.
The therapy consists of wearable cuffs placed below the knee that deliver mild electrical stimulation to the peroneal nerves.
By activating neural pathways associated with voluntary movement, the device aims to reduce involuntary muscle activity linked to RLS and improve sleep quality. Nidra received De Novo classification from the U.S. Food and Drug Administration (FDA) in 2023.
Following the completion of the acquisition on June 3, Nidra will become part of ResMed’s broader sleep medicine portfolio.
Noctrix Health CEO Shri Raghunathan said the company was founded with the mission of providing innovative, non-drug treatment options for patients living with RLS who have limited alternatives.
“Becoming part of ResMed would help expand access to TOMAC therapy and enable the company to reach more patients with a clinically validated solution that improves sleep and overall quality of life,” added Raghunathan.
Paolo Di Giorgio, CEO and Managing Director of Angelini Ventures, described the transaction as the firm's first successful exit and a validation of its strategy to invest in disruptive healthcare companies addressing significant unmet medical needs.