Philips sells emergency AED division to PE firm
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Gus Iversen, Editor in Chief | January 29, 2025
Business Affairs
Bridgefield Capital, a private investment firm based in Washington, D.C., has announced a definitive agreement to acquire the Philips Emergency Care Business from Royal Philips N.V.
The Philips Emergency Care Business, which operates in over 130 countries, is a global leader in emergency medical technology. Its portfolio includes more than 3 million installed Automated External Defibrillators (AEDs) and Advanced Life Support (ALS) devices, supported by a distribution network of 480 partners.
Bridgefield plans to integrate the business into its newly created holding company, Emergency Care Holdings, as part of a broader strategy to grow in the $26 billion emergency medical products market. The firm aims to enhance the business’s manufacturing capabilities, strengthen its distribution network, and drive innovation in lifesaving technologies.
"At Bridgefield, we focus on investment opportunities where we can create value by building strong, stand-alone platforms in attractive industry segments," said Joseph Mathews, managing director of Bridgefield Capital. "We are thrilled to acquire the Philips Emergency Care Business, a top-three global player in the dynamic and rapidly growing emergency medical market."
The Philips Emergency Care Business pioneered the biphasic waveform AED in the late 1990s — a technology that has become the industry standard. Its product line includes AEDs for public and home use, rugged defibrillator-monitors for emergency medical services, and manual defibrillators designed for hospitals. The company also offers advanced informatics solutions to improve care coordination and ensure device readiness.
These devices are utilized in a range of settings, from hospitals to public spaces, to address critical healthcare needs such as sudden cardiac arrest, which accounts for over 4.25 million deaths annually.
Founded in 2015, Bridgefield specializes in corporate carve-outs, helping midsized companies transition from larger parent corporations into independent entities. "As a focused and agile stand-alone entity, the Philips Emergency Care Business can concentrate on its core mission, innovate rapidly, and deliver exceptional value," added Richard Foster, managing director at Bridgefield Capital.
The transaction, subject to regulatory approvals and other customary conditions, is expected to close later in 2025. Financial terms were not disclosed.
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