Philips capsule 635mhalefiercebiotech has acquired a medical device company that specializes in streaming data and contextual insights for patients. This acquisition will complement Philips’ remote and real-time patient monitoring offerings. It also will allow Capsule to expand into the provider space. The company hopes to build a more integrated system to monitor patients and their care.
Philips’ Acquisition of Capsule
In a bid to expand its connected health services, Royal Philips has agreed to acquire Capsule Technologies. This start-up develops data technologies and integrates medical devices into hospitals’ workflows. Its products include critical patient monitoring and clinical surveillance services. The company serves over 2,800 hospitals across 40 countries, and it expects double-digit sales growth in the next three years.
Philips will use the tech created by Capsule alongside its existing portfolio of connected care solutions. Its Capsule Vitals Plus monitoring device, for example, records data from multiple medical devices and analyzes patient data at the bedside. The company has also recently been cleared by the FDA for its capnography monitoring technology.
Philips’ Connected Care Segment
The Amsterdam-based company is focused on transforming the way health care is delivered, through a portfolio of integrated solutions that span patient monitoring, therapeutics, telehealth, informatics, and interoperability solutions. Philips’ recent acquisition of Capsule Technologies is expected to strengthen its portfolio in this area and be accretive to sales growth, according to the company.
The company is focusing on building on its strong position in tele-ICU technology, as well as its experience in the connected care space. Its new products, which are based on software-as-a-service models, are meant to reduce deployment costs while increasing efficiencies for hospitals. The company has had decades of experience in tele-ICU and is confident in its market leadership. However, it will remain mindful of the needs and desires of its provider clients.
Philips’ vision for digital transformation includes delivering precision diagnosis, suggested treatment, and follow-up care, all based on data and analytics. The company will demonstrate its integrated solutions enhanced with adaptive intelligence that help healthcare organizations manage the increasing volume of data and to optimize workflows. It will demonstrate how these solutions help improve the patient experience and reduce costs.
Capsule’s Streaming Data and Contextual Insights
Philips has acquired Capsule Technologies, a company that creates data platforms to connect and manage various medical devices. These devices include vital sign monitoring systems and record systems. This new acquisition will expand Philips’ connected care division. Capsule has development teams in France and the U.S. Its data platform is compatible with more than 940 unique devices.
Philips will acquire Capsule for $635 million. The transaction is subject to regulatory approvals outside the U.S. and other countries. The transaction is expected to close in the first quarter of 2021. Philips plans to use the acquired technology to expand its clinical surveillance and real-time patient monitoring services.
Impact on Philips’ PACS and VNA Decisions
Philips has acquired Capsule Technologies, which provides data platforms for connecting medical devices and record systems. The acquisition is expected to increase Philips’ revenue and margins in the PACS and VNA segments, and is expected to boost Capsule’s sales. Capsule has approximately 300 employees, and will become part of Philips’ connected care business segment.
The acquisition of Capsule complements Philips’ existing imaging solutions, which includes its PACS and VNA solutions. Capsule’s platform has received 510(k) clearance from the FDA, and the company plans to deploy it across healthcare systems in the USA.