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Philips [NYSE: PHG] To Purchase Capsule Technologies For Cash Consideration Of USD 635M

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Koninklijke Philip [NYSE: PHG] revealed that the company has inked a contract to purchase Capsule technologies. The company will pay a cash price of $636 Million for this acquisition. The transaction is subject to certain closing conditions. Moreover, It is expected to close in 2021‘s first quarter. After the transaction is complete, Capsule will operate under the Philips Connected Care Segment along with its current employees.

Capsule’s Medical Device Information platform comprises device integration, monitoring of vitals, and clinical surveillance services links all currently medical devices and EMR’s through a vendor-neutral system. Additionally, This platform captures flowing medical data and converts it into actionable info. Thus this platform aid in boosting patient outcomes, enhancing the partnership between the medical crew and improves productivity.

This transaction aligns with Philips’s strategy to change the approach of care along the health field with incorporated solutions. Philips currently consists of telehealth, real-time patient monitoring, therapeutics devices, and others in its portfolio. The combination of this portfolio along with Capsule’s medical device information will significantly scale and improve Philips Patients Care Management Solutions.

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