Royal Philips buys connected med device company Capsule Technologies

Royal Philips purchased the company for $635 million from a PE firm.
By Laura Lovett
02:35 pm
Share

This morning Royal Philips announced its plans to acquire med tech Capsule Technologies for a whopping $635 million from Francisco Partners.

Capsule is best known for its suite of connected medical devices and its data integration platform that can combine device integration, vital signs monitoring and clinical surveillance services. The tool was designed to link up medical devices and EHRs via a vendor neutral system.

Over the years the company has also landed several FDA clearances. For example, the Capsule Vitals Plus, which records medical device data and continuous vital signs monitoring. It then analyzes the information at the patient's bedside. 

In September of this year the company scored an FDA 510(k) clearance for its connected capnography-monitoring technology.  

Founded over 20 years ago the med tech company has consistently been focused on the connected medical device space.

WHY IT MATTERS

Philips said it made this acquisition as a means to expand its delivery of care and integrated solutions. Specifically, the company notes that it will join its connected patient monitoring, telehealth and informatic products.  

“The acquisition of Capsule will further expand our patient care management offering. 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, as well as other care settings in the hospital and beyond its walls,” Roy Jakobs chief business leader for connected care at Royal Philips, said in a statement.

THE LARGER TREND

This isn’t the first time Capsule has been acquired. In 2015 the company was purchased by Qualcomm Life. Then in 2019 private equity firm Francisco Partners acquired Qualcomm Life. At this time, it was announced that Qualcomm Life would spin out as a new company under the Capsule Technologies name.

Royal Philips has a long history in the connected health space. In fact earlier this week the company announced a multi-year partnership with Merck to develop a digital solution for personalized fertility treatment.  It also has technology geared towards patient monitoring, seniors, and sleep.

MobiHealthNews:

The latest news in digital health delivered daily to your inbox.

Thank you for subscribing!
Error! Something went wrong!