Dutch electronics giant Philips announced today that it will spend US$2.8 billion (approximately NT$78.8 billion) to acquire BioTelemetry, a U.S. biotech company that provides telemonitoring services for heart disease.
Philips, originally a world-renowned home appliance manufacturer, has now ventured into the sale of medical equipment in the announcement of the merger.
The acquisition of BioTelemetry fits perfectly with our strategy to become a major supplier of inpatient and home patient care management,” said Philips CEO Frans Van Houten in a statement.
Headquartered in Amsterdam, Philips said BioTelemetry’s business focuses on providing wearable heart monitors for the diagnosis and monitoring of patients with irregular heart rhythms, and is used by more than one million patients each year; and that it will buy all of BioTelemetry’s outstanding shares at a price of $72 per share.
Philips is in January this year sold the home appliance division in order to fully invest in the medical field of products, especially focused on the non-hospitalized patients of telemedicine care.
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