BiancaMed will become a part of ResMed's Ventures and Initiatives unit set up in May.

ResMed, a US-listed maker of devices to help people sleep, has acquired one of its portfolio companies, Ireland-based medical equipment company BiancaMed, for an enterprise value of reportedly less than $50m.

BiancaMed will become a part of ResMed’s Ventures and Initiatives unit set up in May.

Peter Farrell, ResMed’s executive chairman, said: "We have worked closely with BiancaMed for many years and have been investors since their inception in 2003."

JC Kyrillos, president of ResMed Ventures and Initiatives, added:…