BALA CYNWYD, Pa., July 6, 2021 /PRNewswire/ -- Connect America
LLC, a nationally recognized innovator in digital health and
connected care, announced it has finalized its acquisition of the
Aging and Caregiving (ACG) business from Royal Philips (NYSE: PHG). Terms of the deal
were not disclosed, though Philips will maintain an equity stake in
the company. The integration of the Philips ACG business with
Connect America joins two healthcare market leaders, bringing
together more than 1,500 employees, 3,000 provider partners, nearly
900,000 shared subscribers, and an estimated 10 million lives
impacted.
Connect America is recognized as a leader in digital health
solutions that help aging individuals and vulnerable populations
feel safe and connected in their homes without losing their
independence. This acquisition allows Connect America, a portfolio
company of Detroit-based
Rockbridge Growth Equity, to expand its connected care offerings,
which enable healthcare providers and payers to better manage
patient health and safety in a way that leads to enhanced quality
of life, reduced hospital admissions and readmissions, earlier
interventions, and peace of mind for loved ones and caregivers.
"Bringing together Connect America and Philips ACG, two
healthcare leaders that are both focused on a compassionate
strategy when it comes to providing products and services for the
senior population, is monumental," said Janet Dillione, CEO of Connect America. "Our
capabilities complement each other well, which will only improve
the experience for both our healthcare partners and end users."
Dillione added that in addition to a talented team with a deep
commitment to keeping seniors safe, Connect America is gaining an
additional nationwide Personal Emergency Response System (PERS)
business to complement their own, as well as a valuable customer
base and a network of healthcare professionals.
Along with offering services that connect care circles to keep
aging people safe in their homes, Connect America delivers trusted
insights that transform care outcomes and the patient
experience.
"Since our inception, Connect America has continued to grow and
evolve," said Richard Brooks,
President, Connect America Healthcare. "We recognize the power of
the Lifeline brand and will further leverage our strength in
digital health innovation and connected care to optimize healthcare
delivery, improve outcomes and reduce costs."
"We're just getting started," added Dillione. "Our mission has
always been to address some of the most serious challenges facing
patients and providers, with a singular goal of bringing connected
and much-needed modernization to this industry. We continue to look
toward the future and hold steadfast in our drive towards enriching
the aging journey for our senior population and those who care for
them."
Detroit-based Rockbridge Growth
Equity remains the lead investor and will continue to provide
strategic support for Connect America.
About Connect America
Headquartered in Bala Cynwyd, Pa., Connect America is a leading
provider of digital health and connected care 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:
Katlyn Nesvold
Amendola Communications
knesvold@acmarketingpr.com
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SOURCE Connect America