Royal Philips has signed an agreement to acquire Cardiologs, a Paris-based healthcare technology company known for its AI- and cloud-based cardiac solutions.
No financial details have been announced at this time. The acquisition of Cardiologs, which employs approximately 70 people, is expected to be finalized in the months ahead.
While Philips already manufacturers and sells several cardiac devices in the patient monitoring, telehealth and informatics spaces, the addition of Cardiologs gives the company a wide range of new offerings that use machine learning algorithms to screen and diagnose patients.
“We are delighted to become part of Philips and continue innovating together to provide solutions that empower clinicians all around the world,” Yann Fleureau, co-founder and CEO of Cardiologs, said in a prepared statement. “We look forward to the opportunity to expand the business as part of Philips, maintaining vendor neutrality and continuing to work with third-party vendors to drive further adoption of digital health solutions globally.”
“Offering superb clinical insights, as well as automated clinical reporting, Cardiologs’ medical-grade AI technology and data scientists will be a strong addition to our growing portfolio of cardiac solutions for hospital and ambulatory settings,” Roy Jakobs, chief business leader connected care at Royal Philips, said in the same statement. “Philips’ global footprint can accelerate the availability of Cardiologs’ technology to patients all over the world and further deliver on the quadruple aim of an improved patient care experience, better health outcomes, improved staff experience, and lower cost of care.”
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.