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Philips announced Tuesday that it agreed to acquire Capsule Technologies, a provider of medical device integration and data technologies, for $635 million in cash. The company said the deal, which is expected to close in the first quarter, will add to its portfolio of patient-care management solutions for hospitals and remote care.
Roy Jakobs, Philips' chief business leader of connected care, explained that "integrated patient-care management solutions, supported by essential real-time patient data and [artificial intelligence], are core to our strategy to improve patient outcomes and care provider productivity by seamlessly connecting care."
According to Philips, Capsule's medical device information platform, which features device integration, vital signs monitoring and clinical surveillance services, "connects almost all existing medical devices and electronic medical records in hospitals through a vendor-neutral system." The platform captures streaming clinical data and converts it into "actionable information" that Philips predicts will enhance patient outcomes, improve collaboration between care teams and boost productivity, as well as streamline workflows in intensive care units and other care settings. Further, it added that Capsule's technology can be connected to Philips' portfolio through the cloud-based HealthSuite digital platform, to "greatly…scale patient-care management solutions for all care settings in the hospital, as well as remote patient care."
Philips noted that the acquisition of Capsule, which recorded revenues of over $100 million last year, will be accretive to its sales growth and adjusted earnings margin in 2021. Meanwhile, Capsule and its roughly 300 employees will become part of Philips' connected-care segment.
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