PARIS – Royal Philips NV has signed a deal to acquire Cardiologs Technologies SAS and its artificial intelligence technology. The financial terms surrounding the transaction have not been disclosed. The two companies expect to close the deal in the coming months.

Paris-based health care startup Cardiologs Technologies SAS has launched a clinical study to assess the use of its artificial intelligence (AI) platform to remotely monitor cardiac safety in COVID-19 patients being treated with the malaria drug hydroxychloroquine. The study could help to detect and prevent serious cardiac effects of the drug.

Artificial intelligence (AI) health care startup Cardiologs Technologies SAS scooped up $15 million in a series A funding round led by Alven Capital Partners. The Paris-based company, which has an artificial intelligence-based platform to quickly diagnose cardiac arrhythmias, plans to use the money to grow its sales and marketing efforts across North America and Europe. The funds will also be used to advance the platform’s capabilities. Also participating in the financing were previous investors Bpifrance, Isai, Kurma Diagnostics, Idinvest Partners and Paris Saclay Seed Fund.