Philips Soon To Acquire Capsule Technologies, The Renowned Medical Device Integrator Company, For $635M
The Dutch technology company, Philips has made a big splash in the healthcare industry by acquiring Capsule Technologies for a whopping $635m. Capsule Technologies is a leading provider of data platforms that connect all medical devices and record systems within a hospital. In other words, they’re in the business of making hospital workflows more efficient.
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By buying Capsule Technologies, Philips hopes to expand its portfolio of healthcare solutions and integrate data from various sources to provide a more comprehensive view of patient’s health. They’re playing the long game, and this acquisition is part of a broader strategy to seamlessly connect care across various settings.
The deal is set to be completed by the end of March, and Capsule’s 300 employees will join Philips’ connected care division. This is an exciting development, as Capsule’s software-as-a-service offerings are currently used by over 2,800 healthcare organizations worldwide, with development teams based in the US and France.
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Roy Jakobs, the head of Philips’ connected care division, said, “It is a good idea to put AI to work to improve patient outcomes.” That’s right, they’re using artificial intelligence to help connect care and improve outcomes. Now that’s some cutting-edge stuff!
And they’re not stopping there. Last December, Philips acquired BioTelemetry for $2.8 billion, which expanded its wearable cardiovascular monitoring devices and services. BioTelemetry is also a company that uses artificial intelligence for data processing. In other words, Philips is on a mission to become the go-to provider of innovative, technology-driven healthcare solutions.
We all know that the COVID-19 pandemic has been tough on the medical device industry, but Philips has been able to pivot and adapt. Philips’ connected care segment grew during this time, and the company was granted new clearances and emergency authorizations for its portable ultrasound units and patient monitors and displays. So philips capsule 635mhalefiercebiotech means Philips to buy medical device integrator Capsule Technologies for $635M .
With Capsule Technologies on board, Philips is well-positioned to meet the growing demand for integrated care solutions that leverage real-time patient data and AI-powered analytics. Capsule’s platform can connect to over 940 unique devices, which can help healthcare professionals manage data on another level. Along with that, the company also provides surveillance programs that are found to be quite effective at detecting the early signs of life-threatening events or diseases.