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25 July 2016Americas

Philips acquires Wellcentive

Technology company Philips has bought Wellcentive, a US-based company that provides health management solutions.

The companies signed an agreement on Wednesday, July 20.

Under the terms of the deal, Wellcentive and its employees have joined Philips’s population health management business group. Financial details have not been disclosed.

Tom Zajac, chief executive of Wellcentive, will lead the group.

Jeroen Tas, chief executive of the connected care and health informatics group at Philips, said: “With this strategic acquisition, we will strengthen our … business, as health systems gradually shift from volume to value-based care, and provide more preventative and chronic care services outside of the hospital.”

Zajac added: “Combin ing forces with Philips and its broad portfolio of health technologies and global reach will create a great foundation to accelerate growth in connected care—from healthy living and prevention, to diagnosis, treatment and home care—enabling consumers, providers and health organisations to benefit from our combined, stronger offering.”