Philips Builds on Cardio Diagnostics Prowess with New Acquisition

Royal Philips is hoping to deepen its commitment to the cardiovascular diagnostics space by signing an agreement to acquire Cardiologs. The deal is set to close in the coming months.

Paris, France-based Cardiologs’ technology has been CE-marked and FDA cleared for detection of cardiac arrhythmias.

The company said Cardiologs is a strong fit with its existing portfolio of cardiac care solutions. This includes real-time patient monitoring, therapeutic devices, telehealth and informatics for the hospital. The deal also builds on Philips's high-profile $2.8 billion acquisition of BioTelemetry, a remote cardiac diagnostics, and monitoring company.

“Offering superb clinical insights, as well as automated clinical reporting, Cardiologs’ medical-grade AI technology and data scientists will be a strong addition to our growing portfolio of cardiac solutions for hospital and ambulatory settings,” said Roy Jakobs, Chief Business Leader Connected Care at Royal Philips. “Philips’ global footprint can accelerate the availability of Cardiologs’ technology to patients all over the world and further deliver on the quadruple aim of an improved patient care experience, better health outcomes, improved staff experience, and lower cost of care.”

Cardiologs was founded in 2014 and has about 70 employees. The financial terms of the deal were not disclosed.