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Monday, June 17, 2024

$635 million deal, Philips acquires the market leader of MDIP – Capsule technologies

Philips Continues transforming its business

Philips is resuming its strategic acquisition plan to complement its healthcare portfolio that has a clear objective to transform its business from consumer appliances division to healthcare equipment, services and high tech solutions which is achievable through acquiring new companies instead of building companies from scratch and this will save much time and effort.

Royal Philips starts 2021 with an acquisition of the market leader in medical device integration platform (MDIP);Capsule Technologies at the value of $ 635 million / Euro 530 million.

All transactions of this deal and its regulatory affairs are expected to be fulfilled during the first quarter of 2021 and Capsule with all of its assets including employees will be a part of Philips family.

About Capsule Tech

Capsule technology is a leading medical device integration and patient information solutions company worldwide that develops and provides innovative patient monitoring solutions augmented with artificial intelligence technology to improve patient care and maximize the outcome of digital health for healthcare providers.

This company shows a flexibility in its solutions that fits multiple care settings that can scale up according to facility needs, it also supports cloud platforms and software as a service model that fits multiple segments in the market

Capsule has multiple solutions which include:

Critical care

Patient monitoring

Advanced integration

Connectivity

system and device analytics

Early warning scoring system (EWSS)

Alarm management

Medical device management & tracking

The company started in 1997 and have a sustainable growing business for more than 20 years, its main headquarter in Andover, Massachusetts and operating its solutions in 40 countries with more than 2,800 installations.

Capsule has achieved over $ 100 million of sales with a double digit growth in 2020.

The product profile is including a vendor neutral medical device information platform (MDIP) that can collect clinical data from any type of medical devices regardless of its vendor and transform it to actionable insights that can be delivered to EMR and displayed through their devices or platform to improves clinical decision making process for care providers to enhance patient management and streamline the clinical workflow inside the enterprise

What decision makers said !

The chief business leader connected care of Royal Philips, Roy Jakob mentioned in the press release, “Integrated patient care management solutions supported by essential real-time patient data and AI are core to our strategy to improve patient outcomes and care provider productivity by seamlessly connecting care,” said Roy Jakobs, Chief Business Leader Connected Care at Royal Philips. “The acquisition of Capsule will further expand our patient care management offering. We look forward to integrating our strengths, adding a vendor-neutral medical device integration platform that further unlocks the power of medical device data to enhance patient monitoring and management, improve collaboration and streamline workflows in the ICU, as well as other care settings in the hospital and beyond its walls.”

Hemant Goel, the CEO of Capsule technology expressed his optimism and excitement regarding this acquisition and said in the press release, “We are very excited to become part of Philips and step up on our goal of empowering clinicians with simplified workflows and timely, actionable insights,” said Hemant Goel, “Together, we will be even better positioned to liberate, aggregate, analyze, and share clinical data from connected devices that will support clinicians making more informed decisions, and ultimately drive the transformation from reactive care to insight-driven, proactive care delivery.”

HBC Editors
HBC Editorshttp://www.healthcarebusinessclub.com
HBC editors are a group of healthcare business professionals from diversified backgrounds. At HBC, we present the latest business news, tips, trending topics, interviews in healthcare business field, HBC editors are expanding day by day to cover most of the topics in the middle east and Africa, and other international regions.

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