U.S. Digital Healthcare Company Acquisition
Agreement Signed on July 7... Completion Expected Within This Year
Partnerships with 500 U.S. Hospitals and 70 Healthcare Companies
Expansion of Digital Healthcare into "Connected Care"
Integration of Hospital, Samsung Health, and Xealth Platforms
Comprehensive Management by Combining Personal Health Data and Medical Services
Continued Support for Ultra-Personalized Health Management
On July 8, Samsung Electronics announced that it had signed an agreement on July 7 to acquire the U.S. digital healthcare company Xealth. The acquisition process is expected to be completed within this year.
Through the acquisition of Xealth, Samsung Electronics has also unveiled its blueprint to provide "connected care" services in the United States. "Connected care" is Samsung Health's vision of linking wellness, which focuses on everyday health management, with healthcare in the medical field. It aims to help Galaxy smartphone users conveniently manage their health and even prevent diseases.
Xealth is a company that offers multiple digital healthcare solutions on a single platform. It was established in 2016 as a spin-off from Providence Health System, one of the leading large hospital groups in the United States. Since then, it has partnered with more than 500 hospitals, including major U.S. hospital groups such as Providence Health System, Advocate Health, and Banner Health, as well as over 70 digital healthcare solution companies related to diabetes, pregnancy, surgery, and more.
The platform provided by Xealth enables medical professionals to comprehensively assess patient conditions, prescribe or recommend digital healthcare solutions to patients, and monitor patients' health status in real time. For example, a doctor at a hospital partnered with Xealth can use the Xealth platform to recommend an app from a solution partner company that helps diabetes patients manage their blood sugar and lifestyle habits, allowing for integrated monitoring of blood sugar changes, dietary control, exercise records, and more at a glance.
Samsung Electronics expects to create synergy through this acquisition and expand its presence in the digital healthcare sector. The company has long worked to ensure that digital healthcare technologies become part of people's daily lives. The advanced sensor technology in its wearable devices has established itself as a key tool for meticulously managing users' health throughout the day. Building on this, Samsung Electronics has focused on enabling individuals to manage their own health by integrating health data collected from products such as Galaxy smartphones, watches, and rings into the Samsung Health service.
Going forward, Samsung Electronics plans to utilize the Xealth platform to provide connected care services that link users' biometric data measured from wearable devices with professional medical services. In particular, the company is placing emphasis on disease prevention. It also aims to further expand the digital healthcare ecosystem by connecting it with home appliances, thereby offering more personalized services.
Lee Taemoon, Acting Head of the DX Division at Samsung Electronics, stated, "Samsung Electronics seeks to help people manage their health in daily life through innovative technologies and collaboration with industry partners," adding, "By combining Xealth's extensive healthcare network and expertise, we will set a new standard for ultra-personalized, prevention-focused care."
Michael McSherry, CEO of Xealth, commented, "Samsung Electronics and Xealth share a common goal of realizing true connected care in the healthcare sector and taking digital healthcare to the next level," and added, "By combining biometric data collected from wearable devices with hospital medical records, we will provide new insights into patients and showcase new possibilities in digital healthcare."
Meanwhile, Samsung Electronics has signed three M&A deals so far this year. In May, it acquired the audio division of Masimo (U.S.) and the HVAC company Plect Group (Germany). Prior to that, it had signed successive contracts with companies in future growth industries such as robotics (Rainbow Robotics), artificial intelligence (Oxford Semantic Technologies), and medtech (Sonio).
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