In a move that is sure to shake up the medical technology industry, Philips has announced its intention to buy out Capsule Technologies for an impressive $635 million. This acquisition will bring medical device integration capabilities to Philips and open up a variety of opportunities for their already diverse empire. Read on to find out more about this major acquisition and what it could mean for the future of healthcare.
Philips has agreed to buy Medical Device Integrator CAPSULE Technologies
Philips has agreed to buy CAPSULE Technologies, a medical device integrator, for $635 million. The acquisition will help Philips expand its portfolio of connected health solutions and strengthen its position in the growing market for integrated care solutions.
CAPSULE Technologies is a leading provider of medical device integration solutions that enable clinicians to connect and manage devices from multiple manufacturers through a single platform. The company's solutions are used by more than 5,000 hospitals and clinics around the world.
Philips Capsule 635 Mhalefierce Biotech
The acquisition will give Philips access to CAPSULE Technologies' suite of software and hardware products, which includes the Capsule Connected Care Platform and the Capsule Device Integration Hub. These products will help Philips further develop its own connected health solutions and offer new capabilities to customers.
"The acquisition of CAPSULE Technologies is another important step in Philips' journey to become the global leader in connected health," said Frans van Houten, CEO of Royal Philips. "This transaction will contribute to our ambition of becoming the integrator of choice for providers as they move towards more connected and coordinated care."
CAPSULE is a privately-held company specializing in cardiology devices
Founded in 1997, CAPSULE is a privately-held company specializing in cardiology devices. The company has developed a number of proprietary devices and cardiovascular diagnostics, including the CAPSULE EndoShot and the CAPSULE Pressurewire.
In addition to its core product offerings, CAPSULE also provides consulting services to support the development and commercialization of new cardiovascular products. The company has worked with some of the leading names in the medical device industry, including Medtronic, Boston Scientific, and Abbott Laboratories.
CAPSULE was acquired by Philips in 2016 for $635 million.
The acquisition will strengthen Philips’ position in North America and complement their product portfolio
Philips has announced that it will be acquiring Capsule Technologies, a leading medical device integrator, for $635 million. The acquisition is expected to close in the fourth quarter of 2018.
The acquisition will strengthen Philips’ position in North America and complement their product portfolio. With Capsule Technologies, Philips will be able to offer an end-to-end solution for hospital IT systems, from image and information management to clinical decision support.
Capsule Technologies’ CEO, Sridhar Iyengar, will join Philips as part of the acquisition. “We are excited to join Philips and become a part of its HealthTech business,” said Iyengar. “This is a great opportunity to combine our capabilities and technology with Philips’ global reach and resources. Together, we can help even more hospitals improve patient care and reduce costs.”
As part of its integrated care and vital sign monitoring solutions, Philips has acquired Capsule Technologies, a provider of data platforms that link all medical devices and record systems within a hospital.
It is expected that Philips will complete the $635 million cash deal by the end of March, and Capsule's 300 employees will join its connected care division. With development teams based in the U.S. and France, Capsule's software-as-a-service offerings are currently used by over 2,800 healthcare organizations worldwide. Its platform can connect to more than 940 devices.
Roy Jakobs, Philips' head of connected care, said, "Integrated patient care management solutions backed by real-time patient data and AI are critical to improving patient outcomes and care provider productivity."
Philips hopes to streamline care workflows across various settings by combining Capsule's technology with its current portfolio—from intensive care units to outside hospitals using remote patient monitoring and telehealth programs—by routing all data generated by various devices through a single, vendor-neutral digital system.
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