Philips to Expand Its Population Health Management Business with the Acquisition of Wellcentive
July 20 2016 - 9:00AM
Business Wire
Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it has
signed an agreement to acquire Wellcentive, a leading US-based
provider of population health management software solutions.
Financial details of the transaction will not be disclosed.
In population health management, Philips already offers
enterprise telehealth, home monitoring, personal emergency response
systems (PERS) and personal health services that address multiple
groups within a population from intensive ambulatory care for
high-risk patients to prevention and personal health programs for
the general population. Wellcentive complements Philips’ portfolio
with cloud-based IT solutions to import, aggregate and analyze
clinical, claims and financial data across hospital and health
systems to help care providers deliver coordinated care that meets
new healthcare quality requirements and reimbursement models.
Upon completion of the transaction, which is expected later
today, Wellcentive and its employees will become part of the
Population Health Management business group within Philips. Tom
Zajac, CEO of Wellcentive and an experienced healthcare industry
leader, will be appointed to lead this business group.
“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,” said Jeroen Tas, Philips’ CEO Connected Care &
Health Informatics. “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.”
“Over the past 11 years, the Wellcentive team has focused on
delivering data-driven clinical, financial, and human outcomes for
our customers as they provide care management for more than 30
million patients,” said Tom Zajac, CEO of Wellcentive. “Combining
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 organizations to benefit from our combined, stronger
offering in population health management.”
Wellcentive’s applications will be integrated in the Philips
HealthSuite cloud, the company’s digital enabler for the next
generation of connected health solutions. One example of Philips’
existing care programs for population health management is the
Intensive Ambulatory Care (eIAC) program: this combines telehealth
technologies and population health management software to help care
teams monitor and coach patients at home. It aims to improve
patient outcomes, care team efficiency, and prevent patients from
entering the hospital, where costs are significantly higher.
Founded in 2005 and headquartered in Atlanta, Georgia,
Wellcentive employs approximately 115 employees. The company has a
strong customer base in the US.
About Royal PhilipsRoyal Philips (NYSE: PHG, AEX: PHIA)
is a leading health technology company focused on improving
people’s health and enabling better outcomes across
the health continuum from healthy living and prevention, to
diagnosis, treatment and home care. Philips leverages advanced
technology and deep clinical and consumer insights to
deliver integrated solutions. The company is a leader in
diagnostic imaging, image-guided therapy, patient
monitoring and health informatics, as well as
in consumer health and home care.
Headquartered in the Netherlands, Philips’ health technology
portfolio generated 2015 sales of EUR 16.8 billion and employs
approximately 69,000 employees with sales and services in more than
100 countries. News about Philips can be found at
www.philips.com/newscenter.
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version on businesswire.com: http://www.businesswire.com/news/home/20160720005264/en/
Philips Group CommunicationsSteve Klink, +31 6
10888824steve.klink@philips.comorPhilips Investor RelationsLeandro
Mazzoni, +31 20 5977055investor.relations@philips.com
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