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Connect America Acquires Philips Aging and Caregiving Business

healthcareittoday.com
 2021-05-06

Cover picture for the articleConnect 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.

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