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Philips To Buy Capsule Technologies For $635 Mln In Cash - Quick Facts

Royal Philips (PHG) agreed to buy Capsule Technologies, a provider of medical device integration and data technologies for hospitals and healthcare organizations, for $635 million in cash.

Philips said it expects the acquisition to be accretive to its sales growth and adjusted EBITA margin in 2021. It expects to close the deal in the first quarter of 2021. Capsule and its about 300 employees will become part of Philips' Connected Care segment.

Founded in 1997, Capsule is headquartered in Andover, Massachusetts in the U.S., and serves over 2,800 hospitals and healthcare organizations in 40 countries across the world.

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