(RTTNews) - Bridgefield Capital, a private investment firm, Tuesday announced a definitive agreement to acquire the Philips Emergency Care Business from Royal Philips N.V. (PHG). The financial terms of the deal were not disclosed.
This acquisition is a key component of Bridgefield's strategy to invest in the $26 billion emergency medical products market.
Following the completion of the deal, the Philips Emergency Care Business will become a part of Bridgefield's newly formed holding company, Emergency Care Holdings.
By leveraging the strength of this acquisition, Bridgefield aims to build a high-value platform that fosters growth and innovation in this dynamic and rapidly evolving industry.
The transaction is expected to close later in 2025.
PHG is currently trading at $27.44 up 0.48 percent or $0.13 on the New York Stock Exchange.
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