AMSTERDAM, The Netherlands, and PITTSBURGH — Royal Philips Electronics announced in a press release today that it has acquired "substantially all of the assets" of Pittsburgh-based MedSage Technologies, which offers a voice and email application that providers can use to interact with patients. To become part of its Sleep business within Philips Home Healthcare Solutions, the addition gives Philips a web-based solution that HME companies can use to manage ongoing compliance and supply replenishment for OSA patients, as well as those with diabetes, respiratory and other conditions.
"We believe the need to manage chronic diseases by an aging population, coupled with health economics, will continue to drive a greater need for health care delivery at home," said Steve Rusckowski, CEO of Philips Healthcare. "This acquisition is fully aligned to our strategy of providing home care providers with new opportunities to enhance their service offerings with an effective and cost-efficient application."
The acquisition also "underlines Philips' commitment to invest in its home health care business, a strategic growth area in its ambition to be the leading company in health and well-being," the release said.
The transaction does not include the assets of a venture of MedSage unrelated to the acquired replenishment and compliance services.
Founded in 2003, MedSage is a privately held company with approximately 40 employees. Financial details of the acquisition were not disclosed.