Connect America To Acquire Philips Aging and Caregiving Business
Wednesday, May 5th, 2021
BALA CYNWYD, Penn. (May 5, 2021) Connect America.com, LLC, a nationally recognized provider of connected health solutions, announced that it has signed a definitive agreement to acquire the Aging and Caregiving (ACG) business from Royal Philips. 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
Connect America Acquires Philips Aging and Caregiving Business
Combined Business Will Service an Expanded Customer Base of PERS and Senior Living Subscribers and Healthcare Providers with Innovative Technologies in Connected Care across the U.S. and in Canada
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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
Connect America Acquires Royal Philips’ Aging and Caregiving (ACG) Business
What You Should Know:
– Connect America has acquired international healthcare technology leader, Royal Philips’ Aging and Caregiving (ACG) business in a strategic deal that expands Connect America’s customer base and connect care portfolio.
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.