Royal Philips NV will close on its $635 million acquisition of Capsule Technologies Inc. in the first quarter of 2021, continuing the expansion of the Dutch company's remote monitoring capabilities. Capsule's Medical Device Information Platform integrates nearly all medical devices used in hospitals with electronic health records in a vendor-neutral system. The deal has already received approval from the U.S. Federal Trade Commission and the Department of Justice.
With uncertainty continuing to surround the ongoing pandemic, Biointellisense Inc. has revealed that it is teaming up with the American College of Cardiology (ACC) to advance remote patient monitoring programs for cardiac care. In addition, the ACC plans to offer the company's Biobutton COVID-19 Screening Solution at the 70th Annual Scientific Session & Expo, scheduled for May 15-17 in Atlanta.
Royal Philips NV is expanding its cardio footprint with the acquisition of Biotelemetry Inc., a manufacturer of remote medical technologies, for $2.8 billion, or $72 per share. The proposed deal, announced Friday, furthers Philips’ goal of providing integrated solutions across the care continuum, with Biotelemetry’s cardiac diagnostics and monitoring tools joining Philips’ line of hospital-based patient monitoring solutions. Philips expects the Biotelemetry business to contribute to sales growth and EBITA margin in 2021 and deliver double-digit growth and improve profit margins to more than 20% by 2025.
Royal Philips NV is reporting the launch of Philips Ventilator Bipap A40 EFL, a noninvasive ventilator that aims to help patients with chronic obstructive pulmonary disease (COPD) breathe easier. With its CE mark in hand, the company has tagged initial target markets as France, Italy and the U.K. Additional European markets are expected to come next year.
Royal Philips NV is launching its Quickclear mechanical thrombectomy system in the U.S. four months after obtaining FDA clearance. “Quickclear's intuitive design simplifies the entire thrombectomy procedure work flow. Our new medical device can help bring cost-effective solutions in both the hospital and outpatient care settings,” Chris Landon, senior vice president & business leader, image guided therapy devices at Philips, told BioWorld.
Royal Philips NV reported a 6% decline in year-to-year sales for the second quarter of 2020. While delays in elective procedures suppressed sales in the Amsterdam-based company’s diagnostics and treatment division, the virus boosted demand for connected care and minimized the impact of the coronavirus for the company compared to many competitors.
Biointellisense Inc. received an FDA clearance in January for its Biosticker to monitor patient vital signs at home for as long as 30 days. It was just starting to launch, when along came the novel coronavirus. Now, the Band-Aid-sized monitor is being used to monitor COVID-19 patients at home, as well as chronic disease patients.
A wireless system to monitor mothers in labor and their fetuses has been introduced by Royal Philips NV in the U.S. Known as the Avalon CL Fetal and Maternal Pod and Patch, it is commercialized under recently updated guidance from the U.S. FDA. The Amsterdam-based company is continuing to pursue a standard 510(k) clearance for the system, which is marketed in European countries, Australia, New Zealand and Singapore.
Amsterdam-based Royal Philips NV has launched a five-day, wearable biosensor patch that monitors respiratory and heart rates once every minute, as well as assesses contextual information such as posture, activity level and ambulation. The wearable, disposable patch, dubbed the Philips Biosensor BX100, has received FDA clearance and a CE mark and is intended for use in lower acuity hospital care.
As COVID-19 testing remains elusive in the U.S., much of the nation’s focus has started to shift to how to treat the presumed millions of patients who are already or soon to be infected with the novel coronavirus.