Royal Philips plans to acquire Cardiologs to add another remote monitoring platform to its product portfolio.
The Paris-based company uses ECG data to detect potential arrhythmias. Although there are a large number of companies looking to use ECG data, including KardiaMobile’s consumer-facing devices and Apple Watch, Cardiologs stands out with its device-agnostic platform.
Cardiologists can upload ECG information from a variety of compatible devices to Cardiologs’ cloud platform, from Holter monitors to smart watches and ECG patches.The company’s software platform is FDA approved and CE mark Screening for atrial fibrillation and other arrhythmias is used as an aid to doctors, rather than as an independent diagnostic tool.
The two companies have not disclosed the terms of the transaction, which is expected to be completed in the next few months. Cardiologs’ 70 employees (mainly engineers and data scientists) will be able to join Philips and work with its R&D laboratory in Paris. Yann Fleureau, CEO and co-founder of Cardiologs, emphasized that the company will continue to cooperate with third-party suppliers after the acquisition.
Roy Jakobs, Chief Business Officer, Philips Connected Healthcare, Said in the press release The transaction will add to Philips’ growing portfolio of cardiac solutions for hospital and outpatient environments.
“Philips’ global footprint can accelerate the availability of Cardiologs technology to patients around the world, and further achieve the quadruple goals of improving patient care experience, improving health outcomes, improving employee experience, and reducing care costs,” he said.
Philips made another major remote monitoring acquisition at the end of 2020, when it acquired BioTelemetry for $2.8 billion. Philips said the deal will add cardiac diagnosis and monitoring to its existing capabilities.
Other medical technology companies Also purchased arrhythmia detection equipment recent. At the beginning of the year, Boston Scientific acquires prevention solutions, Which makes Holter monitors and other heart monitoring devices. Baxter also acquired Hillrom Manufacturing ECG monitors and software at a price of US$10.5 billion.
Photo: BrianAJackson, Getty Images
