Royal Philips (NYSE:PHG) announced today that it agreed to acquire Capsule Technologies in a deal worth $635 million.
Andover, Mass.-based Capsule Technologies develops medical device integration and data technologies for hospitals and healthcare organizations. Its offerings include a medical device information platform for integration, vital signs monitoring and clinical surveillance services, according to a news release.
Capsule Technologies serves over 2,800 hospitals and healthcare organizations across 40 countries and, in 2020, the company pulled in sales of over $100 million, marking double-digit growth.
Amsterdam-based Philips said in the release that the acquisition fits into its strategy of transforming the delivery of care with integrated solutions as it adds to a portfolio that includes patient monitoring, therapeutics, telehealth, informatics and interoperability solutions.
In the $635 million deal, which is expected to be completed in…