Philips to expand its leadership in patient care management solutions for the hospital with the acquisition of Capsule Techno...
January 19 2021 - 2:00AM
Philips to expand its leadership in patient care management
solutions for the hospital with the acquisition of Capsule
Technologies, Inc.
January 19, 2021
- Acquisition is a strong fit with Philips’ strategy to transform
the delivery of healthcare along the health continuum with
integrated solutions
- Capsule offers a leading vendor-neutral Medical Device
Information Platform with a software-as-a service business
model
Amsterdam, the Netherlands – Royal Philips
(NYSE: PHG, AEX: PHIA), a global leader in health technology, today
announced that it has signed an agreement to acquire Capsule
Technologies, Inc., a leading provider of medical device
integration and data technologies for hospitals and healthcare
organizations. Capsule’s Medical Device Information Platform -
comprised of device integration, vital signs monitoring and
clinical surveillance services - connects almost all existing
medical devices and EMRs in hospitals through a vendor-neutral
system. Capsule’s platform captures streaming clinical data and
transforms it into actionable information for patient care
management to enhance patient outcomes, improve collaboration
between care teams, streamline clinical workflows and increase
productivity.
The acquisition of Capsule is a strong fit with Philips’
strategy to transform the delivery of care along the health
continuum with integrated solutions. Philips’ current portfolio
already includes real-time patient monitoring, therapeutic devices,
telehealth, informatics and interoperability solutions. The
combination of Philips’ industry-leading portfolio with Capsule’s
leading Medical Device Information Platform, connected through
Philips’ secure vendor-neutral cloud-based HealthSuite digital
platform, will greatly enrich and scale Philips’ patient care
management solutions for all care settings in the hospital, as well
as remote patient care.
“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.”“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, CEO of Capsule
Technologies. “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.”
Founded in 1997, Capsule is headquartered in Andover,
Massachusetts in the U.S., and serves over 2,800 hospitals and
healthcare organizations in 40 countries across the world.
Capsule’s innovations are developed by strong R&D teams in the
U.S. and France. In 2020, the company achieved sales of over USD
100 million with strong double-digit sales growth. The majority of
sales is related to recurring software-as-a-service and licensing
revenues. The acquisition will be accretive to Philips sales growth
and Adjusted EBITA margin in 2021.
Philips will acquire Capsule for a cash consideration of USD 635
million (approximately EUR 530 million). The transaction is subject
to certain closing conditions, including regulatory clearances in
relevant jurisdictions outside of the U.S. Through an early
termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, the U.S. Federal Trade
Commission and Department of Justice have already confirmed that
they allow the transaction to be completed. The transaction is
expected to be completed in the first quarter of 2021. Capsule and
its approximately 300 employees will become part of Philips’
Connected Care segment.
For further information, please
contact:
Ben ZwirsPhilips Global Press OfficeTel.: +31 6 15213446E-mail:
ben.zwirs@philips.com
Derya GuzelPhilips Investor RelationsTel.: +31 20 59
77055E-mail: derya.guzel@philips.com
About Royal PhilipsRoyal Philips (NYSE: PHG,
AEX: PHIA) is a leading health technology company focused on
improving people's health and well-being, and enabling better
outcomes across the health continuum – from healthy living and
prevention, to diagnosis, treatment and home care. Philips
leverages advanced technology and deep clinical and consumer
insights to deliver integrated solutions. Headquartered in the
Netherlands, the company is a leader in diagnostic imaging,
image-guided therapy, patient monitoring and health informatics, as
well as in consumer health and home care. Philips generated 2019
sales of EUR 19.5 billion and employs approximately 81,000
employees with sales and services in more than 100 countries. News
about Philips can be found at www.philips.com/newscenter.
Forward-looking statements This release
contains certain forward-looking statements with respect to the
financial condition, results of operations and business of Philips
and certain of the plans and objectives of Philips with respect to
these items. Examples of forward-looking statements include
statements made about the strategy, estimates of sales growth,
future EBITA, future developments in Philips’ organic business and
the completion of acquisitions and divestments. By their nature,
these statements involve risk and uncertainty because they relate
to future events and circumstances and there are many factors that
could cause actual results and developments to differ materially
from those expressed or implied by these statements.
- Philips eICU telehealth solutions for the ICU
- Capsule Technologies Medical Device Information Platform
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