Philips closes $427M Visicu acquisition

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Doctors and nurses use multiple screens at Visicu workstations to monitor patients in real time. Source: Visicu  

Philips Holding, a unit of Royal Philips Electronics, Wednesday completed a $427 million acquisition of Baltimore-based Visicu, a healthcare IT and clinical solutions company focused on critical care.

The terms of the deal include payment to option holders, pursuant to the previously announced merger agreement on Dec. 18, 2007, by and among Visicu, Philips and Ice Merger Sub.

With the close of the acquisition, shares of Visicu common stock are no longer listed on the Nasdaq exchange.

Philips said it intends to capitalize on its extensive sales channel network to accelerate Visicu’s adoption by ICUs at hospitals in the United States, while internationalizing Visicu’s activities and migrating its technologies into other departments within hospitals.