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Philips plans to acquire Emergin

Philips Medical Systems : 04 December, 2007  (New Product)
Philips is to acquire US-based Emergin the leading US provider of software utilised to rapidly transmit medical alarm signals throughout hospitals.
The transaction is expected to close in the fourth quarter of 2007, upon which Emergin will become part of the Patient Monitoring business unit within Philips’ Healthcare sector. Through this acquisition, Philips will expand the use of information technology in healthcare and specifically in its patient monitoring business to improve patient outcomes and help hospitals work more efficiently.

Steve Rusckowski, CEO of Philips Healthcare explains: “At Philips, we’ve built up a number one position in patient monitoring systems, and you’ll find our monitors throughout the hospital from the emergency room and the operating room, to the intensive care unit. They provide key information on a patient’s health for doctors and nurses. We’re seeing however the ratios of patients to medical staff on the rise, and our customers are looking for solutions that help them access the critical patient data that our monitors provide, quickly and flexibly throughout the hospital. Emergin’s software provides that functionality, and will enhance the performance of our patient monitoring equipment, making it a good fit for this business.”

Emergin’s powerful alarm management and event notification software helps ensure that critical information is sent rapidly to the right caregiver on the personal communication device of their choice be it a pager, wireless telephone, PDA or LED sign. Emergin’s software has wide acceptance among hospital chief information officers (CIOs), who increasingly play a central role in the purchasing decisions at hospitals.

The acquisition of Emergin will enable Philips to integrate the functionality offered by Emergin’s software directly into Philips’ current and future patient monitoring products. Philips also expects to capitalise on Emergin’s strong relations with hospital CIOs. Philips has a leading position in the global patient monitoring market, which in 2006 was estimated to be approximately Euros 2 billion or approximately $3 billion.

“Over the past five years, Emergin has brought several innovations to market in concert with Philips, from new care models to multi-faceted alarm notification methods. The Philips acquisition will enable Emergin to maintain its market leadership by accelerating its time to market and immediately expanding its global footprint,” said Michael A McNeal, president and CEO of Emergin.

Emergin is a privately-held software vendor based in Boca Raton, Florida, USA, with approximately 100 employees. Founded in 1995, Emergin has seen strong demand for its software solutions, with 2007 sales at an estimated $18 million or roughly 50 percent year-on-year growth over the past three years. Following completion of the acquisition, growth is expected to accelerate further as Philips expands Emergin’s activities beyond its North American base.

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