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Home Industry News Philips Medical announces acquisition of emergency response firm

Philips Medical announces acquisition of emergency response firm

12th April 2007

Philips Medical Systems has announced that it signed an agreement to acquire Health Watch, a personal emergency response services company. The purchase is expected to be finalised in the second quarter of the year.

The transaction, which will add over 100,000 new customers to Philips’ existing customer network, is valued at $130 million (65.81 million pounds) in cash.

Services offered by HealthWatch enable elderly citizens to remain active at home, with seniors able to send an alert requesting assistance to a monitoring centre 24-hours a day, with the system featuring two-way communication with a trained operator.

Ivo Lurvinkm, chief executive officer and executive vice-president of consumer health at Philips, said: “The acquisition of Health Watch builds on our successful acquisition of Lifeline Systems last year.”

He added that this acquisition will allow the firm to operate its existing investment in Lifeline over a wider customer base, which will further the potential of the business unit to create value.

Last month, Philips exhibited a number of different solutions at the American College of Cardiology meeting designed to save time in the treatment of patients with heart disease.

These products included the HeartStart MRx monitor/defibrillator and the Xper information management cath lab workflow solution among others.

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