Mar 07, 2019
Acquisition reinforces Philips’ commitment to deliver industry-leading medical imaging and healthcare IT solutions to enhance patient care and provider productivity
Amsterdam, The Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has signed an agreement to acquire the Healthcare Information Systems business of Carestream Health Inc., a US-based provider of medical imaging and healthcare IT solutions for hospitals, imaging centers and specialty medical clinics. Carestream’s cloud-based enterprise imaging platform will augment Philips’ current radiology informatics offering for imaging data management, workflow enhancement, and advanced visualization and analysis. Moreover, Carestream’s Healthcare Information Systems business and installed base in Latin America, Europe and Asia are highly complementary to Philips’ market leadership in high-end radiology informatics in North America.
Philips expects to complete the transaction in the second half of 2019, subject to customary closing conditions, including the relevant regulatory approvals. Financial details of the transaction were not disclosed.
This acquisition will enhance our ability to provide flexible solutions to hospitals and health systems.
Robert Cascella
Chief Business Leader Precision Diagnosis
Philips’ current enterprise imaging solutions combine deep clinical and informatics expertise with technological innovation to securely connect patients, care teams, and data across entire health systems. Its visualization and analysis applications use adaptive intelligence to support the clinician at the point-of-care by providing clinical insights and improving collaboration among clinical teams.
Upon completion of the transaction*, Philips will feature Carestream’s cloud-based enterprise imaging platform—including state-of-the-art Vendor Neutral Archive (VNA), diagnostic and enterprise viewers, multimedia reporting, workflow orchestrator and clinical, operational and business analytics tools—as part of its expanded portfolio. The Healthcare Information Systems business and its approximately 900 employees will become part of Philips’ Healthcare Informatics business within the Diagnosis & Treatment segment.
* Carestream will retain its medical imaging, dental and industrial films, non-destructive testing, and precision coating businesses, which are not impacted by the sale of the Healthcare Information Systems business to Philips.
