Philips has signed an agreement for the sale of its Emergency Care business to US-based investment firm Bridgefield Capital.
This move comes as part of Philips’ strategic refocus, as unveiled in January 2023, to concentrate resources on areas with the potential for greater scale and financial impact.
The Philips Emergency Care Business operates in over 130 countries and has a significant installed base of over three million automated external defibrillators (AEDs) and advanced life support (ALS) devices.
With a network of 480 distribution partners worldwide, the business caters to workplaces, communities, and hospitals.
As part of the Connected Care segment, the Emergency Care business offers critical products for acute care management, both inside and outside the hospital.
These encompass cardiac resuscitation devices, such as automated external defibrillators, along with emergency care devices for both professional and consumer use.
Philips and the division will enter into an exclusive brand license agreement.
This will allow the Philips brand to be used for the global manufacturing, sales, and marketing of Emergency Care products for up to 15 years.
Bridgefield managing director Richard Foster said: “As a focused and agile standalone entity, the Philips Emergency Care Business can concentrate on its core mission, innovate rapidly, and deliver exceptional value to its customers and communities worldwide.”
The divestiture aligns with Bridgefield’s strategy to invest in the emergency medical products market through Emergency Care Holdings, its newly established holding company.
The transaction, subject to certain closing conditions and regulatory approvals, is anticipated to be finalised in the second half of 2025.
The financial details of the deal have not been disclosed.
