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.
– Royal Philips’ 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.
– 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.
