Royal Philips to acquire US-based scale-up company developing and commercializing next-generation sensor technologies

Royal Philips to acquire US-based scale-up company developing and commercializing next-generation sensor technologies

AMSTERDAM, 31-Aug-2018 — /EuropaWire/ —  Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has acquired Xhale Assurance Inc, a US-based scale-up company developing and commercializing next-generation sensor technologies. Xhale Assurance’s unique, disposable pulse oximetry sensor is placed on the wing (ala) of the nose, and can reliably measure and transmit a patient’s heart rate and blood oxygenation under low perfusion (diminished blood circulation) conditions that are challenging for conventional fingertip pulse oximetry sensors. This technology will broaden and differentiate Philips’ existing portfolio of oxygen saturation monitoring solutions and allow the company to expand into a currently underserved clinical segment. Financial details of the transaction were not disclosed.

“Xhale Assurance’s nasal alar sensor offers exceptional clinical capabilities and strengthens our patient monitoring offering with a next-generation pulse oximetry sensor technology,” said Felix Baader, Business Leader of Monitoring & Analytics at Philips. “The sensor technology also offers opportunities to develop measurements of further physiologic parameters. I am excited that this will augment our ability to offer solutions that enhance patient safety, support clinical workflow, improve caregiver efficiency, and help our customers implement value-based healthcare.”

Xhale Assurance’s innovative alar sensor allows accurate measurement at lower oxygen saturation levels, which is essential for patients who have suffered a heart attack or a hypoxic event. As such, the sensor enhances patient safety by overcoming the shortcomings of existing oxygen saturation sensors, and can provide caregivers with early warning signals of impending adverse events.

Philips’ industry-leading patient monitoring portfolio addresses all acuity levels and care settings within hospitals and health systems, and supports a broad patient population – from basic screening to complex surveillance in critical care. It includes bedside and wearable patient monitors, consumables such as connected wearable biosensors, and clinical decision support tools and mobile applications for real-time clinical information at the patient’s bedside. More than 275 million patients are monitored each year with Philips’ patient monitoring solutions.

About Royal Philips
Royal 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. Headquartered in the Netherlands, 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. Philips generated 2017 sales of EUR 17.8 billion and employs approximately 75,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

MEDIA CONTACTS

Steve Klink
Philips Group Press Office
Tel: +31 6 10888824

Ksenija Gonciarenko
Philips Investor Relations
Tel: +31 20 59 77055

SOURCE: Koninklijke Philips N.V.