Connect America Completes Acquisition of Philips Aging and Caregiving Business
Connect America LLC has acquired the Aging and Caregiving (ACG) business from Royal Philips (NYSE: PHG). While the deal's terms remain undisclosed, Philips retains an equity stake. This acquisition merges two leading healthcare providers, combining over 1,500 employees, 3,000 provider partners, and almost 900,000 subscribers, positively impacting an estimated 10 million lives. The integration is expected to enhance patient health management, reduce hospital admissions, and improve care quality.
- Acquisition expands Connect America's digital health offerings.
- Combining resources will enhance service delivery to seniors.
- Increased customer base and provider partnerships.
- Potential for reduced healthcare costs and improved outcomes.
- None.
BALA CYNWYD, Pa., July 6, 2021 /PRNewswire/ -- Connect America LLC, a nationally recognized innovator in digital health and connected care, announced it has finalized its acquisition of the Aging and Caregiving (ACG) business from Royal Philips (NYSE: PHG). Terms of the deal were not disclosed, though Philips will maintain an equity stake in the company. The integration of the Philips ACG business with Connect America joins two healthcare market leaders, bringing together more than 1,500 employees, 3,000 provider partners, nearly 900,000 shared subscribers, and an estimated 10 million lives impacted.
Connect America is recognized as a leader in digital health solutions that help aging individuals and vulnerable populations feel safe and connected in their homes without losing their independence. This acquisition allows Connect America, a portfolio company of Detroit-based Rockbridge Growth Equity, to expand its connected care offerings, which enable healthcare providers and payers to better manage patient health and safety in a way that leads to enhanced quality of life, reduced hospital admissions and readmissions, earlier interventions, and peace of mind for loved ones and caregivers.
"Bringing together Connect America and Philips ACG, two healthcare leaders that are both focused on a compassionate strategy when it comes to providing products and services for the senior population, is monumental," said Janet Dillione, CEO of Connect America. "Our capabilities complement each other well, which will only improve the experience for both our healthcare partners and end users." Dillione added that in addition to a talented team with a deep commitment to keeping seniors safe, Connect America is gaining an additional nationwide Personal Emergency Response System (PERS) business to complement their own, as well as a valuable customer base and a network of healthcare professionals.
Along with offering services that connect care circles to keep aging people safe in their homes, Connect America delivers trusted insights that transform care outcomes and the patient experience.
"Since our inception, Connect America has continued to grow and evolve," said Richard Brooks, President, Connect America Healthcare. "We recognize the power of the Lifeline brand and will further leverage our strength in digital health innovation and connected care to optimize healthcare delivery, improve outcomes and reduce costs."
"We're just getting started," added Dillione. "Our mission has always been to address some of the most serious challenges facing patients and providers, with a singular goal of bringing connected and much-needed modernization to this industry. We continue to look toward the future and hold steadfast in our drive towards enriching the aging journey for our senior population and those who care for them."
Detroit-based Rockbridge Growth Equity remains the lead investor and will continue to provide strategic support for Connect America.
About Connect America
Headquartered in Bala Cynwyd, Pa., Connect America is a leading provider of digital health and connected care 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:
Katlyn Nesvold
Amendola Communications
knesvold@acmarketingpr.com
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SOURCE Connect America
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