Emergency Care Holdings completes acquisition of Philips emergency care business

Emergency Care Holdings said it has completed the acquisition of the Philips Emergency Care business from Koninklijke Philips N.V., launching a new global platform focused on emergency medical technology for the pre-hospital care market.

The business will operate under the name Heartstream and will continue to market select products under a Philips brand license, the company said. Emergency Care Holdings, or ECH, is backed by private investment firm Bridgefield Capital.

The acquisition marks the start of ECH’s strategy to build a portfolio of emergency medical technology companies in a sector the company estimates exceeds $26 billion globally. The market is characterized by strong demand, recurring revenue and long-term demographic and regulatory tailwinds, according to the announcement.

Headquartered in Bothell, Washington, Heartstream operates in more than 130 countries through about 480 distribution partners. The business has an installed base of more than three million automated external defibrillators and advanced life support devices worldwide and employs more than 600 people globally. The company is known for its brand recognition, clinical credibility and long-standing customer relationships.

“The acquisition provides ECH with a scaled, profitable and globally diversified foundation for platform expansion,” said Nestor Benavides, director of operations at ECH. “As a standalone company, the business gains sharper operational focus, enhanced capital flexibility and a clear mandate to accelerate innovation, margin expansion and global growth.”

The business brings nearly four decades of experience in advanced defibrillation and resuscitation technologies, supported by proprietary informatics and connectivity platforms that generate recurring software and service revenue, the company said.

“With the backing of ECH, we are positioned to move faster, invest more strategically, and scale our technology roadmap globally,” said Ryan Landon, chief executive officer of Heartstream. “This structure strengthens our ability to advance our mission and serve customers while expanding our leadership in emergency care.”

ECH said Heartstream will serve as the foundation for a broader, multi-brand emergency care platform.

“Philips Emergency Care (now Heartstream) provides a compelling foundation for a multi-brand, multi-category emergency care platform,” said Todd Mohr, managing director of ECH. “ECH intends to pursue disciplined, complementary acquisitions that expand product breadth, geographic reach and operating leverage.”

The company said it plans to target acquisitions in adjacent product categories across pre-hospital and unscheduled care, including diagnostics, therapies, services, equipment and informatics. Those acquisitions are expected to share commercial channels, regulatory and logistics infrastructure, and operating platforms.

“This acquisition launches a platform built for scale, operational excellence and long-term value creation,” said Bernie Kropfelder, director of ECH and a partner at Bridgefield Capital. “We see a significant opportunity to consolidate a fragmented global market while expanding access to life-saving technologies worldwide.”