Royal Philips is adding another remote-monitoring platform to its portfolio with its planned acquisition of Cardiologs.
The Paris-based company uses ECG data to detect potential cardiac arrhythmias. While there are a plethora of companies looking to tap into ECG data, including KardiaMobile’s consumer-facing devices and the Apple Watch, Cardiologs sets itself apart with a device-agnostic platform.
Cardiologists can upload ECG information to Cardiologs’ cloud platform from a variety of compatible devices, from Holter monitors to smartwatches and ECG patches. The company’s software platform is FDA-cleared and CE-marked to screen for atrial fibrillation and other arrhythmias as a physician aid, not as a standalone diagnostic tool.
The companies have not disclosed the terms of the deal, which is expected to close in the coming months. Cardiologs’ 70 employees, largely engineers and data scientists, will be able to join Philips and work with its R&D lab in Paris. Yann Fleureau, Cardiologs’ CEO and co-founder, emphasized that the company would continue to work with third-party vendors after the acquisition.
Roy Jakobs, chief business leader of connected care at Philips, said in a news release that the deal would add to Philips’ growing portfolio of cardiac solutions for hospital and ambulatory settings.
“Philips’ global footprint can accelerate the availability of Cardiologs’ technology to patients all over the world and further deliver on the quadruple aim of an improved patient care experience, better health outcomes, improved staff experience, and lower cost of care,” he said.
Philips made another significant remote monitoring acquisition in late 2020, when it bought BioTelemetry for $2.8 billion. Philips said the deal would add cardiac diagnostics and monitoring to its existing capabilities.
Other medical technology companies have also bought into arrhythmia-detecting devices recently. At the beginning of the year, Boston Scientific bought Preventice Solutions, which makes Holter monitors and other cardiac monitoring devices. Baxter also bought Hillrom for $10.5 billion, which makes ECG monitors and software.
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