Home » News » Currently Reading:

Philips To Acquire Visicu for $430 Million

December 18, 2007 News No Comments

Royal Philips Electronics NV announced this morning in Europe that it intends to acquire ICU monitoring systems vendor Visicu for $430 million in cash, strengthening Philips’ position in patient monitoring. The company’s offer of $12 per share represents a 35% premium to yesterday’s closing price.

Baltimore-based Visicu earned $9 million on sales of $36 million over the past year. In the 20 months since its IPO, Visicu shares have dropped from nearly $25 to below $9. Its board has approved the acquisition and recommends that its shareholders approve it.

From the CEO of Philips Healthcare: “Today’s deal builds on Philips’ announcement two weeks ago that we’re acquiring another clinical IT company, Emergin. Philips is a market leader in patient monitoring systems in the hospital, so we know the challenges our customers face – rising patient numbers, staff shortages and concerns about patient safety. By investing in clinical IT solutions like those offered by Visicu and Emergin, we believe we can offer customers more attractive patient monitoring solutions that improve hospital productivity as well as patient outcomes. So making these investments we believe will drive further growth in our patient monitoring business.”

View/Print Text Only View/Print Text Only


HIStalk Featured Sponsors

     







Subscribe to Updates

Search


Loading

Text Ads


Report News and Rumors

No title

Anonymous online form
E-mail
Rumor line: 801.HIT.NEWS

Tweets

Archives

Founding Sponsors


 

Platinum Sponsors


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gold Sponsors


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reader Comments

  • Ben there: Ben, I text "refill" to Walgreens and it takes less than ten seconds. Vista's architecture is a disaster (sad) and i...
  • W: Agree with Fake News. The linked article is a "hypothesis" and IIRC, screenshots showed that the travel history was clea...
  • Fedupvet: Save your breath, the beltway companies have been embedded in VA leadership over the last decade and the billions are li...
  • Ben: Agreed. As a veteran and long-time member of our industry, I agree with Dr. Rick. My VA providers have always said ...
  • Echo chamber: Why wouldn't Cerner, or Epic, or any other commercial vendor be able to innovate as fast or faster? I'm guessing Vista ...

Sponsor Quick Links