From the January/February 2022 issue of HealthCare Business News magazine
As the world grappled with COVID-19, the healthcare industry continued to make deals. Here we look back in chronological order at some of the biggest mergers and acquisitions that we covered in our Daily News online in 2021.
While much of our news focused on transactions involving industry OEMs, there was also a focus, later in the year, on market activity involving healthcare facilities and health systems.
Philips acquires Capsule Technologies for $635 million
Royal Philips announced in January that it was offering a cash consideration of $635 million to acquire Capsule Technologies from investment firm Francisco Partners.
The acquisition would expand the long-term partnership between Philips and Capsule, with the latter becoming part of Philips’ Connected Care segment.
"Through the acquisition of Capsule Technologies, we will add additional, essential, real-time patient data to further enhance patient monitoring and management, improve collaboration and streamline workflows," Steve Klink, head of the global press office and industry analyst relations for Philips, told HCB News.
Among Capsule’s offerings is its Medical Device Information Platform, which comprises device integration, vital signs monitoring and clinical surveillance services. It is designed to connect almost all existing medical devices and EMRs in hospitals through a vendor-neutral system and captures streaming clinical data for actionable insight into patient management.
Connected through Philips’ vendor-neutral cloud-based HealthSuite digital platform, the solution is expected to scale its patient care management solutions for all care settings in the hospital and boost remote patient care. It also would expand Philips’ current portfolio, which already includes real-time patient monitoring, therapeutic devices, telehealth, informatics and interoperability solutions.
“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,” said Roy Jakobs, chief business leader, Connected Care at Royal Philips, in a statement.
The deal would bring Capsule’s leadership team and approximately 300 of its employees under Philips’ wing. “We are excited to join Philips and continue our mission of empowering clinicians with simplified workflows and timely, actionable insights,” said Hemant Goel, CEO of Capsule, in a statement.
