Koninklijke Philips N.V.
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Publicatie datum
04 okt 2007 - 08:17
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips to acquire Raytel Cardiac Services to expand into US home cardiac monitoring market
Bericht
October 4, 2007
PHILIPS TO ACQUIRE RAYTEL CARDIAC SERVICES TO EXPAND INTO US HOME CARDIAC MONITORING MARKET
• Acquisition builds on Philips’ leading position in medical technologies for heart disease – the most common cause of death in the developed world
• Move a next step in expanding home healthcare market position – complements earlier Lifeline and Health Watch acquisitions
Amsterdam, the Netherlands and Windsor, Connecticut – Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced Philips will acquire US-based Raytel Cardiac Services (“Raytel”) (a division of Raytel Medical Corporation) and other ancillary operations from SHL Telemedicine Ltd., for approximately USD 110 million in cash. Subject to receipt of regulatory approval, the transaction is expected to close in the fourth quarter of 2007, upon which Raytel will become part of Philips’ Home Healthcare Solutions business group. Raytel Cardiac Services is a leading US provider of home cardiac monitoring services that doctors prescribe to heart patients. Headquartered in Windsor, Connecticut, Raytel Cardiac Services employs highly-trained cardiac technicians working at monitoring centers, where they analyze patient data and provide real-time patient information to prescribing physicians.
Acquiring Raytel Cardiac Services represents a further step in Philips’ healthcare strategy of improving patient outcomes in specific care cycles, such as cardiology: “Heart disease is the number one killer in the west. So Philips has invested heavily over the years to become the top supplier to hospitals of medical equipment for managing heart disease. Patients are living longer and healthcare costs are rising, so we’re looking for innovative and effective ways to support both patients and the healthcare system. Raytel can help us extend the cardiac care cycle into the home, which is where patients prefer to stay, and where we see opportunities for addressing healthcare costs as well as quality of life issues,”
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