Royal Philips (NYSE:PHG) said today it inked a deal to pick up population health management software dev Wellcentive for an undisclosed amount.
Philips said the purchase would “compliment” its current portfolio of cloud-based IT solutions and will allow them to import, aggregate and analyze clinical, claims and financial data across hospital and health systems as companies aim to meet new quality requirements and fit new reimbursement models.
“With this strategic acquisition, we will strengthen our Population Health Management business and its leadership, as health systems gradually shift from volume to value-based care, and provide more preventative and chronic care services outside of the hospital. Our sweet spot is at the point of care as we give consumers, patients, care teams and clinicians the tools, such as remote monitoring solutions and therapy devices, to optimize care. Wellcentive’s solutions will provide our customers with the ability to collect data from large populations, detect patterns, assess risks and then deploy care programs tailored to the needs of specific groups.” connected care & health informatics CEO Jeroen Tas said in a press release.
The companies expect the transaction to close later today, with employees of Wellcentive getting folded into Philips population health management business group. Wellcentive CEO Tom Zajac is slated to be appointed as the leader of the group.
WellCentive’s applications are planned to be integrated into Philips HealthSuite cloud as part of the merger.
Last month, Philips said it acquired an Irish digital pathology firm, PathXL, for an undisclosed amount. The acquisition of Belfast-based PathXL and its digital pathology image analysis tech is part of the Dutch conglomerate’s shift toward its healthcare business.
Last month Philips sold off a 25% stake in its legacy lighting business – its last non-healthcare unit – as part of a plan to pare its operations. CEO Frans van Houten said the digital pathology business is growing at a double-digit annual clip.
