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Dutch technology conglomerate Philips has achieved a small Boston-based health technology startup called Medumo for health care.
Medumo uses a combination of email and SMS to deliver instructions to patients on behalf of hospital customers. The company, which has fewer than 30 employees, fits into the so-called "patient engagement" trend, which involves providing tools for medical providers to stay in touch with their patients outside the four walls of the doctor's office.
For Philips, the acquisition can provide an opportunity to build a service for its existing healthcare customers.
Philips has been on an acquisition line for its health portfolio, which includes a range of hospital products, such as medical devices, imaging systems and alarm systems to help physicians participate in the most critical patients. Several months ago, Carestream acquired its health IT business for its radiology informatics business, striking a handful of other health start-ups in 201
Philips and other traditional health technology providers can face increasing competition with traditional tech giants such as Amazon, Apple and Alphabet. These technology companies build all their own healthcare businesses, ranging from consumer-focused smartwatches to health monitoring capabilities to IT systems designed to help clinicians fill in patient lists.
Meduma's partners include the Boston Children's Hospital, which has said hospitals lose billions of dollars each year due to missed appointments and malfunctioning preparation or discharge instructions. The other major customer is Harvard's Hospital Brigham Health, which recently raved that Medumo is one of the best startups. One of Medumi's first applications is to guide patients through a colonoscopy, earning headlines about how it "tells you about your poop."
Financial terms of the agreement were not disclosed.
Phillips issued an internal note announcing the agreement on Wednesday, but had not publicly announced the acquisition.
A spokesperson confirmed: "Philips has signed an agreement to acquire the US based health start-up Medumo, which will provide an advanced diagnostic patient management (DPM) offer to the Philips expanding diagnostic digital service portfolio."
They added: "With Medoo's software designed to remind and prepare patients for preliminary tasks, we improve the relationship with the patient and their care while improving operational results for our clients. " Philips explained that it makes acquisitions as an" add on "for to fill in specific holes in the portfolio.
Medumo, who started in 2013, traveled a little early in 2018, and is a trained Silicon Valley accelerator program Y Combinator.
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