Thursday, October 21, 2021

Philips buys Capsule Technologies for $ 635 million

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Koninklijke Philips NV said on Tuesday it had agreed to buy Capsule Technologies, Inc. for $ 635 million in cash, as part of a deal that expands the group’s patient care management offering.

Capsule, based in Andover, Mass., Is a provider of medical device and data integration technologies for hospitals and healthcare organizations, Philips said. The company was founded in 1997, employs around 300 people and generated around $ 100 million in revenue last year.

Dutch medical technology company said the acquisition fits perfectly with its strategy, as Capsule’s medical device information platform will join the group’s portfolio of patient care services for hospitals. and remote care.

Philips said the acquisition will increase sales growth and adjusted earnings before interest, taxes and depreciation margin in 2021.

The deal is expected to close in the first quarter of 2021, subject to certain closing conditions, Philips said.

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  • According to the source Philips buys Capsule Technologies for $ 635 million
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