Qualcomm sells healthcare subsidiary - Mobile World Live

Qualcomm sells healthcare subsidiary

11 FEB 2019

Private equity company Francisco Partners acquired Qualcomm Life, the vendor’s subsidiary providing systems for the medical sector, for an undisclosed sum.

Qualcomm Life provided connectivity technology for medical devices in addition to specialist data processing platforms for hospitals, GP surgeries and other healthcare providers.

As a result of the deal the former Qualcomm division has been rebranded Capsule Technologies, with ex-Qualcomm Life president Rick Valencia staying on as an adviser to aid the transition.

In a statement, Francisco Partners explained the new company will run information systems in more than 2,000 hospitals across 40 countries.

“Through Capsule’s connected devices, networking solutions, and intelligent software applications, hospitals can capture and visualise clinical data to monitor patient health and improve patient care,” it added.

Qualcomm formed the division in 2011, moving assets formerly under Qualcomm Wireless Health into the subsidiary. At the time the new company was allocated $100 million in funding from its parent company to “accelerate wireless health services and technology adoption.”

Terms of the deal were not revealed.

Author

Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

Read more

Related

Tags