Philips to acquire clinical IT provider
19 December 2007 00:00 in Medical Company Restructures
Philips Healthcare, a division of Royal Philips Electronics, has confirmed a merger agreement with the clinical IT and service provider Visicu.
The agreement would see Philips offering to acquire the entire share capital of the IT provider at $12 (six pounds) per share.
Philips has stated that Viscu's remote patient monitoring technology could be integrated with its patient monitors and would allow both companies to accelerate growth by offering products that offer more effective clinical decision support to hospital staff.
Steve Rusckowski, chief executive officer of Philips Healthcare, illustrated that the agreement built on the announcement that the company was also to acquire the clinical IT company Emergin.
"By investing in clinical IT solutions like those offered by Visicu and Emergin, we believe we can offer customers more attractive patient monitoring solutions that improve hospital productivity as well as patient outcomes," he said.
The deal sees Philips offer an enterprise value of around $300 million with the closing of the merger subject to the terms and conditions of the merger agreement, the approval by Viscu's shareholders and customary regulatory clearance.
Earlier this month, Philips Healthcare announced that it was to acquire Emergin - an American firm which provides medical alarm software for hospitals.
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