By - Royal Philips recently announced that it has signed a $635 million agreement to acquire Andover, MA-based Capsule Technologies, a provider of medical device integration and data technologies for hospitals and healthcare organizations.
Capsule’s Medical Device Information Platform connects almost all existing medical device EMRs in hospitals through a vendor-neutral system.
The platform, comprised of device integration, vital signs monitoring, and clinical surveillance service, aims to enhance patient management, improve collaboration between care teams, and streamline workflows in the ICU.
The acquisition of Capsule will enhance Royal Philips’ current portfolio, which includes real-time patient monitoring, therapeutic devices, telehealth, informatics, and interoperability solutions.
“Integrated patient care management solutions supported by essential real-time patient data and AI are core to our strategy to improve patient outcomes and care provider productivity by seamlessly connecting care,” Roy Jakobs, chief business leader of connected care at Philips, said in the announcement.
“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,” Jakobs continued.
The combination of Philips’ portfolio and Capsule’s Medical Device Information Platform will boost and scale patient care management solutions for all care settings in the hospital and remote patient care as well.
“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,” said Hemant Goel, CEO of Capsule Technologies.
“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,” Goel continued.
Currently, Capsule serves over 2,800 hospitals and healthcare organizations in 40 countries globally. The company’s innovations are developed by strong research and development teams in the US and France.
Notably, Capsule achieved sales of over 100 million with strong double-digit sales growth in 2020, Philips stated.
The transaction between Philips and Capsule is subject to certain conditions, including regulatory clearances in jurisdictions outside the US, but is expected to close in the first quarter of this year.
As part of the acquisition, Capsule and nearly 300 of its employees will become part of Philips’ Connected Care segment.
The top two considered vendors in PACS and VNA decisions around the world are Philips CARESTREAM and Agfa HealthCare, according to a December 2019 KLAS report.
Philips is driven by its top-tier functionality and its strong VNA solution, is a top performer for Canada, and has significant growth factor for both Europe and the Middle East
And in a February Best in KLAS 2020 Software & Services report, Philips was one of many imaging system vendors that saw the top of the charts. Specifically, Philips was rated first for cardiology imaging solutions, at 76.5 points. Additionally, the company was also ranked first at 82.7 points for universal viewer imaging solutions.
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January 21, 2021 at 11:00PM
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Philips Acquires Medical Device Integrator Capsule for $635M - HITInfrastructure.com
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