Philips Makes Second Acquisition Bid This MonthPhilips Makes Second Acquisition Bid This Month

Philips said it’s going to acquire Remote Diagnostic Technologies in an effort to expand its Therapeutic Care Business.

By Omar Ford

‘Tis the season for Philips and M&A. The Amsterdam, Netherlands-based company is set to pick up Remote Diagnostic Technologies (RDT) for an undisclosed sum. This is the second proposed acquisition the company has made in a month’s time.

RDT’s portfolio of connected emergency care solutions will complement Philips’ Therapeutic Care business and strengthen its position in the resuscitation and emergency care market.

Philips said RDT's offerings include Tempus ALS, a modularized monitor and defibrillator that offers functionality in a smaller, lighter and more flexible package. RDT also offers highly robust, yet lightweight monitors equipped with telecommunication capabilities for various emergency responders. “We are committed to investing in and expanding our resuscitation and emergency care offering, and with the acquisition of RDT we can boost our capabilities and portfolio in this vital area of healthcare," said Arman Voskerchyan, Business Leader for Therapeutic Care at Philips said in a release. "With its focus on the pre-hospital market, RDT’s portfolio of emergency care solutions will enable Philips to grow its presence in this market, as we further build our health technology portfolio and extend the range of connected, data-driven solutions we offer to our customers.”

Earlier this month, Philips said it would pick up EPD Solutions for $292 million upfront.