Dutch health technology company Royal Philips has signed an all-cash deal worth $635 million to acquire Capsule Technologies, a portfolio company of Francisco Partners.
Based in Massachusetts, Capsule Technologies caters to hospitals and healthcare organizations with medical device integration (MDI) and data technologies.
Established in 1997, the company is said to serve more than 2,800 hospitals and healthcare organizations across 40 countries.
Via a vendor-neutral system, Capsule Technologies’ Medical Device Information Platform, which consists of device integration, vital signs monitoring, and clinical surveillance solutions, is said to help connect all the available medical devices and EMRs in hospitals.
The platform is said to capture streaming clinical data from connected systems and converts it into actionable information for clinical documentation, patient surveillance, alarm management, decision support, clinical research, predictive analytics, and other purposes.
Hemant Goel – CEO of Capsule Technologies said: “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.
“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.”
The acquisition of Capsule Technologies is expected to enhance Royal Philips’ healthcare delivery with integrated solutions.
The Dutch firm said that the combination of its portfolio with the Medical Device Information Platform when connected via the former’s cloud-based HealthSuite digital platform is expected to enrich and scale its patient care management solutions across all care settings in the hospital, and also for remote patient care.
Roy Jakobs – Chief Business Leader Connected Care at Royal Philips 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.”
Post-acquisition, Capsule Technologies and its nearly 300 employees will become part of the Dutch firm’s connected care segment.
The transaction is expected to close in Q1 2021, subject to certain closing conditions, which include regulatory approvals in relevant jurisdictions outside of the US.