Health technology company Royal Philips has agreed to acquire French medical technology firm Cardiologs for an undisclosed sum.
Established in 2014, Cardiologs is focused on leveraging the power of machine learning to support clinicians better manage patients suffering from cardiac arrhythmia disorders.
Cardiologs Holter Platform is claimed to be the first medical device powered by deep learning technology. The device secured CE mark approval and FDA clearance.
It was developed using a database of over 20 million ECG recordings and supported by multiple clinical publications.
The acquisition of Cardiologs will allow Philips to strengthen its cardiac monitoring and diagnostics offering with advanced software technology, electrocardiogram (ECG) analysis and reporting services.
Cardiologs is said to complement Philips’ existing portfolio of cardiac care solutions, which consist of real-time patient monitoring, therapeutic devices, telehealth and informatics for the hospital.
The portfolio also includes ambulatory cardiac diagnostics and monitoring solutions, which were added via BioTelemetry acquisition.
Cardiologs’ technology, which was developed in collaboration with leading physicians, is expected to boost diagnostic reporting, minimise the occurrence of reporting errors and streamline clinician workflow and patient care.
Royal Philips connected care chief business leader Roy Jakobs said: “Offering superb clinical insights, as well as automated clinical reporting, Cardiologs’ medical-grade AI technology and data scientists will be a strong addition to our growing portfolio of cardiac solutions for hospital and ambulatory settings.
“Philips’ global footprint can accelerate the availability of Cardiologs’ technology to patients all over the world and further deliver on the quadruple aim of an improved patient care experience, better health outcomes, improved staff experience, and lower cost of care.”
Subject to customary closing conditions, the deal is expected to be completed in the coming months.
