Health technology company Royal Philips has agreed to acquire Francisco Partners portfolio company Capsule Technologies for a cash consideration of $635m.
Based in Andover of Massachusetts, Capsule Technologies offers medical device integration and data technologies for hospitals and healthcare organisations.
Established in 1997, the company serves more than 2,800 hospitals and healthcare organisations in 40 countries across the world.
Capsule provides Medical Device Information Platform, which consists of device integration, vital signs monitoring, and clinical surveillance solutions that help connect all existing medical devices and EMRs in hospitals via a vendor-neutral system.
The platform acquires streaming clinical data from connected systems and converts it into actionable information for clinical documentation, alarm management, patient surveillance, decision support, predictive analytics and clinical research.
Capsule acquisition to boost Philips’ integrated solutions
The acquisition of Capsule will allow Philips to boost its delivery of care along the health continuum with integrated solutions.
Philips’ current portfolio already consists of real-time patient monitoring, therapeutic devices, telehealth, informatics and interoperability solutions.
Connected through Philips’ secure vendor-neutral cloud-based HealthSuite digital platform, the combination of Philips’ portfolio and Capsule’s Medical Device Information Platform is expected to enable Philips to enhance patient care management solutions for all care settings in the hospital and remote patient care.
Royal Philips connected care chief business leader Roy Jakobs said: “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.”
Subject to certain closing conditions including regulatory clearances in relevant jurisdictions outside of the US, the deal is expected to be completed in the first quarter of 2021.
Following the completion of the transaction, Capsule and its approximately 300 employees will become part of Philips’ connected care segment.
In December 2020, Philips reached a definitive merger agreement with remote medical monitoring technology firm BioTelemetry, worth $2.8bn.
