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Philips Acquiring Visicu

December 18, 2007
by root
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Amsterdam-based Royal Philips Electronics is acquiring Visicu Inc., a provider of ICU remote-monitoring technology, for approximately $430 million.

The organizations stated that by integrating Visicu's remote patient-monitoring and clinical decision-support technology with Philips' patient monitors, they expect to accelerate growth. Upon completion of the acquisition, Philips intends to capitalize on its sales channel network to accelerate Visicu’s adoption by ICUs at U.S. hospitals, while internationalizing Visicu’s activities and migrating its technologies into other departments within the hospital. Philips believes leveraging Visicu’s and Emergin’s clinical IT capabilities will also accelerate growth in its existing patient-monitoring business. Philips announced it was acquiring Emergin in early December.

Philips plans to acquire the entire share capital of Visicu for $12 per share. The board of Visicu has approved the transaction and has recommended that Visicu shareholders vote their shares in favor of the merger. The transaction is expected to close in the first quarter of 2008.

Founded in 1998, Visicu has a staff of approximately 100, which includes clinicians, software developers, sales and client services personnel.

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