XMS Serves as Exclusive Financial Advisor to Royal Philips on Acquisition of Healthcare Information Systems Business of Carestream Health
March 26, 2019
CHICAGO, ILLINOIS, March 26, 2019 — XMS Capital Partners, LLC (“XMS”), a global, independent financial services firm providing investment banking, asset management and merchant banking services, announced that it served as the exclusive financial advisor to Royal Philips (NYSE: PHG, AEX: PHIA), on the acquisition of the Healthcare Information Systems business of Carestream Health.
Carestream Health Inc. is a U.S.-based provider of medical imaging and healthcare IT solutions for hospitals, imaging centers and specialty medical clinics. Carestream’s cloud-based enterprise imaging platform will augment Philips’ current radiology informatics offering for imaging data management, workflow enhancement and advanced visualization and analysis. Importantly, Carestream’s Healthcare Information Systems business and installed base in Latin America, Europe and Asia are highly complementary to Philips’ market leadership in high-end radiology informatics in North America.
“Philips partners with global healthcare providers to connect people, information and technology with the commitment to deliver on improved patient experiences, better health outcomes, improved staff experiences and lower costs of care,” said Robert Cascella, Chief Business Leader – Precision Diagnosis at Royal Philips.
Brian Brownschidle, Executive Director of XMS Capital commented, “Healthcare IT remains one of the fastest growing segments of healthcare and is highly fragmented. XMS is grateful for the opportunity to work with Philips on this transaction which expands the Company’s radiology informatics portfolio and complements their geographic footprint.”
Philips expects to complete the transaction in the second half of 2019. Financial details of the transaction were not disclosed.
About XMS Capital Partners
XMS Capital Partners, established in 2006, is a global, independent financial services firm providing investment banking, asset management and merchant banking services to clients. It has offices in Chicago, London and Dublin.
XMS provides Involvement BankingTM, which goes beyond transaction oriented investment banking and focuses on delivering objective, value added advice and custom tailored solutions to help clients achieve their strategic goals. It consistently creates value for its clients by giving them access to comprehensive, independent M&A, strategic advisory, financial restructuring, capital structure advisory and private capital advisory expertise.
XMS Capital Partners, LLC is a FINRA member and SIPC member. XMS Capital Partners (UK) Limited is authorized and regulated by the Financial Conduct Authority. For more information, please visit www.xmscapital.com.