Private equity firm Francisco Partners (FP) has acquired the digital health pioneer Qualcomm Life from its parent company, Qualcomm.
Under the deal, Qualcomm Life will be renamed to Capsule Technologies, Inc. (CapsuleTech), and continue operating its two distinct business segments: Capsule (a leading provider of medical device connectivity solutions for hospitals) and 2net (a medical grade mobile connectivity platform).
FP plans to help Qualcomm Life (now CapsuleTech) continue to deliver market leading products and services to its world class customer base, according to Rick Valencia — former President of Qualcomm Life — who will support CapsuleTech as an advisor in its transition to a standalone company.
Capsule is a leading medical device connectivity platform that connects medical devices to clinical information systems in over 2,000 hospitals in approximately 40 countries. Through Capsule's connected devices, networking solutions, and intelligent software applications, hospitals can capture and visualize clinical data to monitor patient health and improve patient care.
"Capsule is a key enabler of the digital hospital and is a trusted choice among hospital clinicians, IT administrators, and healthcare IT vendors," Chris Adams, Partner with Francisco Partners, said in a statement. "As hospitals continue to adopt data-driven approaches to managing patient care, Capsule stands to benefit by serving as a centralized connectivity hub for clinical information. We are excited to partner with Capsule and to help the team capitalize on new innovations in device technology and software applications."
Capsule's 2net solution provides wireless mobile device connectivity via cloud-based solutions so biometric information is easily accessible by device users, healthcare providers, and payors. 2net's customers include leading health insurance payors, pharmaceutical companies, and medical device manufacturers.
Centerview Partners served as financial advisor and DLA Piper LLP served as legal advisor to Qualcomm Incorporated. Kirkland & Ellis LLP served as legal advisor to Francisco Partners. Terms of the transaction were not disclosed.