Philips to Buy Capsule Technologies for $635 Million
19 January 2021 - 6:45PM
Dow Jones News
By Adria Calatayud
Koninklijke Philips NV said Tuesday that it has agreed to buy
Capsule Technologies, Inc. for $635 million in cash, in a deal that
expands the group's patient-care-management offering.
Andover, Massachusetts-based Capsule is a provider of
medical-device integration and data technologies for hospitals and
healthcare organizations, Philips said. The company was founded in
1997, employs around 300 people and generated sales of around $100
million last year.
The Dutch medical-technology company said the acquisition is a
strong fit with its strategy, as Capsule's Medical Device
Information Platform will add to the group's portfolio of
patient-care services for hospitals and remote care.
Philips said the acquisition will add to its sales growth and
adjusted earnings before interest, taxes and amortization margin in
2021.
The deal is expected to close in the first quarter of 2021,
subject to certain closing conditions, Philips said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
January 19, 2021 02:30 ET (07:30 GMT)
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