Royal Philips has signed an agreement to acquire Wellcentive, a population health management company based in Atlanta.
Under terms of the deal, Wellcentive's services and employees will be integrated into Philip's population health management business, according to a news release. Philips offers telehealth and home monitoring services.
Financial details for the deal were not disclosed.
Wellcentive offers population health services such as data analytics for health systems, physician organizations, accountable care organizations and health plans. The company employs approximately 115 employees and provides care services for more than 30 million patients.
The purchase is the latest effort by the Netherlands-based conglomerate to boost its growing healthcare services portfolio.
Last month, Philips acquired PathXL, a Northern Ireland-based developer of software used for digital pathology image analysis, workflow and education.
The company has also engaged in multiyear strategic partnerships with providers for equipment services. Philips entered into a $90 million, 15-year agreement in January with Marin General Hospital in Greenbrae, Calif., to provide medical technologies and consulting services. The company also entered into a 15-year, $500 million contract last year with Westchester Medical Center Health Network in Valhalla, N.Y.
In January, the company reported €374 million, or $405.9 million, in income from healthcare operations in the fourth quarter, up 7% from the year before.