Hillrom has announced that it has acquired contact-free continuous monitoring technology from Israeli medical device company EarlySense.
Medical technology provider Hillrom reported that the terms of the deal included a cash consideration of $30 million, potential payments based on the achievement of certain commercial milestones, and a portion of Hillrom’s equity investment in EarlySense.
“Hillrom is transforming care with highly differentiated sensing and digital communication capabilities that drive improved patient safety and ensure timely, effective clinical intervention,” said Hillrom president and CEO John Groetelaars.
He continued: “We look forward to bringing these critical technologies to more customers around the world as we deliver on our vision of Advancing Connected Care.”
Hillrom will provide EarlySense a license to the technology, as EarlySense continues to develop next-generation AI-based sensing technologies specifically for the remote patient care market.
The acquisition underscores Hillrom’s continued commitment to building a differentiated suite of connected solutions to improve patient outcomes, the company said.
It is not expected to have a material impact on the company’s fiscal 2021 financial guidance.
“EarlySense technology has monitored over one million patients and helped care teams save tens of thousands of lives. Transferring this technology to Hillrom will advance our global impact in acute care settings,” said Matt Johnson, CEO of EarlySense.
He continued: “Simultaneously, we are excited to focus our future on post-acute remote patient care, which is growing dramatically and has experienced widespread acceptance and momentum in the market due to the COVID-19 pandemic.”