Philips to sell its Emergency Care business to Bridgefield Capital
Bridgefield Capital will buy the segment, which includes cardiac resuscitation and emergency care devices, for an undisclosed amount. The post Philips to sell its Emergency Care business to Bridgefield Capital appeared first on MedTech Intelligence.
Press Release: MTI Staff was not involved in writing this content
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has signed an agreement to sell its Emergency Care business, to Bridgefield Capital, a US-based investment firm.
Philips and the Emergency Care business will enter into an exclusive brand license agreement to use the Philips brand for manufacturing, sales, and marketing of Emergency Care products globally for a period of up to 15 years.
The Emergency Care business, which is part of the Connected Care segment, offers products that play a critical role in acute care management, both inside and outside the hospital, including cardiac resuscitation, such as automated external defibrillators, and emergency care devices for professional and consumer applications.
As part of Philips’ renewed company strategy, as presented in January, 2023, the company is concentrating its resources where it can achieve larger scale and financial impact. Against this background, Philips carefully considered options for its Emergency Care business, and decided to divest this business to Bridgefield Capital, a US-based investment firm that advises and invests in businesses to accelerate growth and profitability.
The transaction is subject to the satisfaction of certain closing conditions and receipt of regulatory approval, and is expected to be completed in the second half of 2025. Financial terms are not disclosed.
The post Philips to sell its Emergency Care business to Bridgefield Capital appeared first on MedTech Intelligence.
