Philips strengthens home healthcare portfolio with acquisition of main business of Medsage Technologies
Amsterdam, The Netherlands and Pittsburgh, USA – Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced today that it has acquired substantially all of the assets of medSage Technologies LLC, a leading provider of patient interaction and management applications (“medSage Technologies”). The acquisition will allow Philips to offer a web-based solution that enables home care providers to manage ongoing compliance and replenishment services for individuals under treatment for obstructive sleep apnea (OSA), diabetes, respiratory and other conditions. The acquired business will become part of the Sleep business within Philips Home Healthcare Solutions.
“We believe the need to manage chronic diseases by an aging population, coupled with health economics, will continue to drive a greater need for healthcare delivery at home,” said Steve Rusckowski, CEO of Philips Healthcare. “This acquisition is fully aligned to our strategy of providing home care providers with new opportunities to enhance their service offerings with an effective and cost-efficient application.”
MedSage Technologies has developed a novel voice and email application that home care providers can use to interact with patients. In alignment with insurance provider guidelines, the solution enables customization of the contact and replenishment activities to address a diverse set of patient needs.
MedSage Technologies is a privately-held company headquartered in Pittsburgh, PA, USA, with approximately 40 employees. Financial details of the acquisition were not disclosed. The transaction does not include the assets of a venture of medSage unrelated to the acquired replenishment and compliance services.
The acquisition of the main business of medSage Technologies further underlines Philips‘ commitment to invest in its home healthcare business, a strategic growth area in its ambition to be the leading company in health and well-being.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs more than 118,000 employees in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare.
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