Royal Philips has signed an agreement to acquire Respiratory Technologies Inc (RespirTech), a US-based provider airway clearance solution for patients with COPD and cystic fibrosis. Financial terms of the acquisition will not be disclosed, according to Philips.
The expansion of Philips’ leading respiratory care portfolio with RespirTech’s vest therapy solution and capabilities will further strengthen Philips’ solutions to manage care in the hospital and at home, according to the company.
RespirTech’s offerings further enable Philips to accelerate its growth in respiratory care, especially for COPD patients with bronchiectasis, an often underdiagnosed and undertreated comorbidity. Moreover, RespirTech’s portfolio includes a robust clinical support program for managing respiratory patients in the home. This will support Philips’ ambition to deliver cost-effective, clinically focused service programs, such as its sleep focused Patient Adherence Management Service (PAMS), which enable health providers to better manage their patients.
“With this transaction, we will broaden our portfolio with a proven therapy to enable patients with chronic respiratory disorders manage their condition and receive the care they need in the home,” said John Frank, Philips’ Business Leader, Sleep & Respiratory Care. “RespirTech’s vest therapy can be applied to a range of respiratory conditions and various neuromuscular diseases, where patients’ compromised abilities to cough often leads to serious respiratory complications and associated higher care costs. By helping these patients help themselves, we aim to enhance the patient’s quality of life and reduce the overall cost of care.”
The transaction is expected to be completed in the coming months, according to Philips.