PR Newswire02.11.19
Francisco Partners ("FP"), a technology-focused private equity firm, today announced it has acquired Qualcomm Life Inc. a wholly owned subsidiary of Qualcomm Incorporated that offers end-to-end medical device connectivity across the continuum of care.
Qualcomm Life will be separated from Qualcomm, be renamed as Capsule Technologies Inc. ("CapsuleTech"), and continue operating its two distinct business segments: Capsule (a leading provider of medical device connectivity solutions for hospitals) and 2net (a medical grade mobile connectivity platform).
"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," said Duane Nelles, Senior Vice President of Corporate Development at Qualcomm Incorporated. "We look forward to our partnership with the FP team as they grow CapsuleTech as an independent entity."
"FP's acquisition will help Qualcomm Life (now CapsuleTech) continue to deliver market-leading products and services to its world-class customer base," said Rick Valencia, former President of Qualcomm Life, who will support CapsuleTech as an advisor in its transition to a standalone company.
Capsule is a leading medical device connectivity platform that connects medical devices to clinical information systems in over 2,000 hospitals in approximately 40 countries. Through 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.
"Capsule is a key enabler of the digital hospital and is a trusted choice among hospital clinicians, IT administrators, and healthcare IT vendors," said Chris Adams, Partner with Francisco Partners. "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."
2net provides wireless mobile device connectivity via cloud-based solutions so biometric information is easily accessible by device users, healthcare providers, and payors. 2net's customers include leading health insurance payors, pharmaceutical companies, and medical device manufacturers.
"Capsule and 2net will continue to drive increased focus on their respective customers, deliver mission-critical solutions and provide exceptional service," said Justin Chen, Vice President with Francisco Partners. "We look forward to supporting the talented employees and management team going forward."
Centerview Partners served as financial advisor and DLA Piper LLP served as legal advisor to Qualcomm Incorporated. Kirkland & Ellis LLP served as legal advisor to Francisco Partners. Terms of the transaction were not disclosed.
Qualcomm Life will be separated from Qualcomm, be renamed as Capsule Technologies Inc. ("CapsuleTech"), and continue operating its two distinct business segments: Capsule (a leading provider of medical device connectivity solutions for hospitals) and 2net (a medical grade mobile connectivity platform).
"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," said Duane Nelles, Senior Vice President of Corporate Development at Qualcomm Incorporated. "We look forward to our partnership with the FP team as they grow CapsuleTech as an independent entity."
"FP's acquisition will help Qualcomm Life (now CapsuleTech) continue to deliver market-leading products and services to its world-class customer base," said Rick Valencia, former President of Qualcomm Life, who will support CapsuleTech as an advisor in its transition to a standalone company.
Capsule is a leading medical device connectivity platform that connects medical devices to clinical information systems in over 2,000 hospitals in approximately 40 countries. Through 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.
"Capsule is a key enabler of the digital hospital and is a trusted choice among hospital clinicians, IT administrators, and healthcare IT vendors," said Chris Adams, Partner with Francisco Partners. "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."
2net provides wireless mobile device connectivity via cloud-based solutions so biometric information is easily accessible by device users, healthcare providers, and payors. 2net's customers include leading health insurance payors, pharmaceutical companies, and medical device manufacturers.
"Capsule and 2net will continue to drive increased focus on their respective customers, deliver mission-critical solutions and provide exceptional service," said Justin Chen, Vice President with Francisco Partners. "We look forward to supporting the talented employees and management team going forward."
Centerview Partners served as financial advisor and DLA Piper LLP served as legal advisor to Qualcomm Incorporated. Kirkland & Ellis LLP served as legal advisor to Francisco Partners. Terms of the transaction were not disclosed.
