Technology-focused private equity company Francisco Partners has acquired Qualcomm's subsidiary Qualcomm Life, which provides end-to-end medical device connectivity across the continuum of care.
Qualcomm Life will be renamed as Capsule Technologies and will continue to operate its two business segments, Capsule, a provider of medical device connectivity solutions for hospitals, and 2net, the medical grade mobile connectivity platform.
Established in 1997, Capsule offers medical device connectivity to clinical information systems, covering more than 2,000 hospitals across 40 countries.
With Capsule’s connected devices, networking solutions and intelligent software applications, hospitals can capture and visualize clinical data to monitor patient health and improve patient care.
Founded in 2011, 2net offers wireless mobile device connectivity via cloud-based solutions to make biometric information can be easily accessed by device users, health care providers, and payors. Its customers include leading health insurance payors, pharmaceutical companies, and medical device manufacturers.
Qualcomm corporate development senior vice president Duane Nelles said: “Francisco Partners’ deep experience in healthcare technology and proven track record in nurturing and growing technology businesses will enable CapsuleTech’s loyal base of employees to continue delivering innovation.
“We look forward to our partnership with the FP team as they grow CapsuleTech as an independent entity.”
Francisco Partners partner Chris Adams said: “Capsule is a key enabler of the digital hospital and is a trusted choice among hospital clinicians, IT administrators, and healthcare IT vendors.
As hospitals continue to adopt data-driven approaches to managing patient care, Capsule stands to benefit by serving as a centralized connectivity hub for clinical information. We are excited to partner with Capsule and to help the team capitalize on new innovations in device technology and software applications.”
Last February, Qualcomm’s subsidiary entered into an agreement with AlertWatch, an Ann Arbor based company.
As part of the agreement, Qualcomm Life will have exclusive rights to market and sell AlertWatch:OR, an FDA-cleared Class II software-as-medical device (SaMD) used by clinicians for secondary monitoring of patients in operating rooms.