Philips to acquire AI-powered cardiac diagnostic technology developer Cardiologs

[Image from Philips/Cardiologs]Royal Philips (NYSE:PHG) announced today that it signed an agreement to acquire Cardiologs and its artificial intelligence (AI)-based technology.

Amsterdam-based Philips said in a news release that France-based Cardiologs and its AI and cloud technology will further strengthen its cardiac monitoring and diagnostics offerings with innovative software, electrocardiogram (ECG) analysis and reporting services.

Financial terms were not disclosed for the transaction. The companies expect the deal to close in the coming months, subject to customary closing conditions.

Cardiologs’ offerings include a vendor-neutral heart disorder screener and ECG analysis applications based on machine learning algorithms. The company designed its technology to accelerate diagnostic reporting, decrease reporting errors and streamline clinician workflow and patient care. Its technology holds CE mark and FDA clearance for detecting cardiac arrhythm…

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