Buyer: Royal Phillips
Seller: Respiratory Technologies
Sector: HME, Medical Device
Royal Philips has signed an agreement to acquire Respiratory Technologies, the maker of an airway clearance solution for patients with chronic respiratory conditions, like COPD and cystic fibrosis. Philips says the expansion of its respiratory care portfolio with RespirTech’s vest will further strengthen its solutions to manage care in the hospital and at home. “As healthcare continues to transform to a value-based care model, Philips is strengthening its respiratory care portfolio to enable its home care and hospital partners to better serve the care network,” the company stated in a press release. RespirTech’s portfolio also includes a robust clinical support program for managing respiratory patients in the home. The St. Paul, Minn.-based company was founded in 2004 and employs about 210 employees. Philips will not disclose financial details.