Bridgefield Capital, a private investment firm, has announced a definitive agreement to acquire the Philips Emergency Care Business from Royal Philips N.V. (PHG). The financial specifics of the transaction remain undisclosed.
This strategic acquisition plays a vital role in Bridgefield's overarching plan to penetrate the $26 billion emergency medical products market.
Upon closing of the deal, the Philips Emergency Care Business will merge into Bridgefield's newly established entity, Emergency Care Holdings.
Bridgefield intends to utilize this acquisition to establish a powerful platform that encourages growth and innovation within this highly dynamic and rapidly advancing sector.
The transaction is anticipated to be finalized by late 2025.
Currently, PHG's stock is trading at $27.44, reflecting a 0.48% increase, or $0.13, on the New York Stock Exchange.
