Connect America Acquires Philips Aging and Caregiving Business
Connect America has announced its acquisition of Philips' Aging and Caregiving (ACG) business, which includes the Lifeline Personal Emergency Response System. This strategic move aims to enhance services for North American subscribers by integrating ACG's digital caregiving solutions into Connect America's offerings. The deal is expected to close soon, pending regulatory approvals, with Philips retaining an equity stake in Connect America. Executives from both companies emphasized the synergy and shared commitment to improving care for aging individuals.
- Acquisition of Philips' ACG business enhances service offerings in connected health solutions.
- Expected to leverage combined strengths to innovate in the Personal Emergency Response System (PERS) market.
- Philips retains equity stake, indicating ongoing partnership and shared interests.
- None.
BALA CYNWYD, Pa., May 5, 2021 /PRNewswire/ -- Connect America.com, LLC, a nationally recognized leading innovator in connected health solutions, announced today that it has signed a definitive agreement to acquire the Aging and Caregiving (ACG) business from Royal Philips (NYSE: PHG). The ACG business offers the Lifeline Personal Emergency Response System (PERS) and senior living solutions with 24/7 access to trained care specialists, and digital solutions that help caregivers stay connected and coordinate their loved one's needs. North American subscribers of both Connect America and ACG will benefit from expanded service offerings and new innovations in connected care. Financial terms of the deal will not be disclosed. Subject to regulatory approvals, the deal is expected to close in the weeks ahead. Philips will maintain an equity stake in the company. Until close, the two companies will continue to operate fully independently and competitively.
As a leading innovator helping to shape technology and solutions across the connected health continuum, Connect America is an independent provider of medical alert systems in North America and has become known as a leader in technology solutions that help aging individuals and vulnerable populations to feel safe and connected without losing their independence. With the addition of the ACG business, Connect America will further leverage its strength in innovation and technology solutions to serve stakeholders in the PERS market in both the consumer and healthcare segments. Detroit-based Rockbridge Growth Equity remains the lead investor and will continue to provide strategic support for Connect America.
"Connect America and Philips ACG's shared commitment to supporting the aging journey for our subscribers and caregivers, as well as our highly complementary offerings make this acquisition a very exciting opportunity to expand our impact and better serve our subscribers," said Janet Dillione, CEO, Connect America. "Philips ACG has been an experienced provider of digital caregiving, monitoring, and senior living solutions for more than 35 years, offering a connected data-driven ecosystem to customers across North America. Together as one team, we will deliver an unmatched, state-of-the-art health management platform."
"Both Philips ACG, with its Lifeline Personal Emergency Response services, and Connect America have a rich history of innovation and delivering customer value. Our joining forces will bring two market innovators together to provide exciting new opportunities for our employees, subscribers, and healthcare network partners," said Derek Ross, business leader of Philips ACG.
"Connect America's mission is to help to address some of the most serious challenges facing patients and providers. Acquiring Philips' ACG business will allow us to expand our ability to serve our subscribers and partners by bringing additional connected care products and services to individuals and caregivers throughout North America," said Richard Brooks, President, Connect America Healthcare. "Philips ACG subscribers and providers will benefit from our web-based platform that enables clinicians to better manage chronic conditions and educates individuals on how to better monitor their own health."
"This acquisition solidifies Connect America's position in shaping the future of the connected health space and the innovative, value-added solutions that can be delivered to our customers. We are excited for the opportunity to grow our technology offerings and expand our geographic coverage in both the U.S. and Canadian markets," added Dillione.
About Connect America
Headquartered in Bala Cynwyd, Pa., Connect America is a leading provider of connected health solutions dedicated to improving access to care, safety, independence, and quality of life. Its growing portfolio of medical alert systems, remote patient monitoring, and medication management solutions help bridge the gap between individuals and their health partners, providing a more connected health experience.
Connect America is proud to offer innovative healthcare technologies that help improve the lives of those they serve. For more than 40 years, the company and its wholly owned subsidiaries, have been delivering value-based solutions committed to quality care, improved health outcomes, increased patient satisfaction, and reduced costs. Its mission is to ensure that every individual, patient, and provider has access to the life-saving benefits of receiving the right care at the right time. To learn more, visit https://www.connectamerica.com.
CONTACT:
Allison Gumbs
Connect America
allison.gumbs@medicalalert.com
Kim Warth
Amendola Communications
kwarth@acmarketingpr.com
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SOURCE Connect America
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