BALA CYNWYD, Pa., May 5, 2021 /PRNewswire/ -- Connect
America.com, LLC, a nationally recognized leading innovator in
connected health solutions, announced today that it has signed a
definitive agreement to acquire the Aging and Caregiving (ACG)
business from Royal Philips (NYSE:
PHG). The ACG business offers the Lifeline Personal Emergency
Response System (PERS) and senior living solutions with 24/7 access
to trained care specialists, and digital solutions that help
caregivers stay connected and coordinate their loved one's needs.
North American subscribers of both Connect America and ACG will
benefit from expanded service offerings and new innovations in
connected care. Financial terms of the deal will not be disclosed.
Subject to regulatory approvals, the deal is expected to close in
the weeks ahead. Philips will maintain an equity stake in the
company. Until close, the two companies will continue to
operate fully independently and competitively.
As a leading innovator helping to shape technology and solutions
across the connected health continuum, Connect America is an
independent provider of medical alert systems in North America and has become known as a leader
in technology solutions that help aging individuals and vulnerable
populations to feel safe and connected without losing their
independence. With the addition of the ACG business, Connect
America will further leverage its strength in innovation and
technology solutions to serve stakeholders in the PERS market in
both the consumer and healthcare segments. Detroit-based Rockbridge Growth Equity remains
the lead investor and will continue to provide strategic support
for Connect America.
"Connect America and Philips ACG's shared commitment to
supporting the aging journey for our subscribers and caregivers, as
well as our highly complementary offerings make this acquisition a
very exciting opportunity to expand our impact and better serve our
subscribers," said Janet Dillione,
CEO, Connect America. "Philips ACG has been an experienced provider
of digital caregiving, monitoring, and senior living solutions for
more than 35 years, offering a connected data-driven ecosystem to
customers across North America.
Together as one team, we will deliver an unmatched,
state-of-the-art health management platform."
"Both Philips ACG, with its Lifeline Personal Emergency Response
services, and Connect America have a rich history of innovation and
delivering customer value. Our joining forces will bring two market
innovators together to provide exciting new opportunities for our
employees, subscribers, and healthcare network partners," said
Derek Ross, business leader of
Philips ACG.
"Connect America's mission is to help to address some of the
most serious challenges facing patients and providers. Acquiring
Philips' ACG business will allow us to expand our ability to serve
our subscribers and partners by bringing additional connected care
products and services to individuals and caregivers throughout
North America," said Richard Brooks, President, Connect America
Healthcare. "Philips ACG subscribers and providers will benefit
from our web-based platform that enables clinicians to better
manage chronic conditions and educates individuals on how to better
monitor their own health."
"This acquisition solidifies Connect America's position in
shaping the future of the connected health space and the
innovative, value-added solutions that can be delivered to our
customers. We are excited for the opportunity to grow our
technology offerings and expand our geographic coverage in both the
U.S. and Canadian markets," added Dillione.
About Connect America
Headquartered in Bala Cynwyd, Pa., Connect America is a leading
provider of connected health solutions dedicated to improving
access to care, safety, independence, and quality of life. Its
growing portfolio of medical alert systems, remote patient
monitoring, and medication management solutions help bridge the gap
between individuals and their health partners, providing a more
connected health experience.
Connect America is proud to offer innovative healthcare
technologies that help improve the lives of those they serve. For
more than 40 years, the company and its wholly owned subsidiaries,
have been delivering value-based solutions committed to quality
care, improved health outcomes, increased patient satisfaction, and
reduced costs. Its mission is to ensure that every individual,
patient, and provider has access to the life-saving benefits of
receiving the right care at the right time. To learn more, visit
https://www.connectamerica.com.
CONTACT:
Allison
Gumbs
Connect America
allison.gumbs@medicalalert.com
Kim Warth
Amendola Communications
kwarth@acmarketingpr.com
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SOURCE Connect America