Samsung Electronics plans to acquire a digital health firm spun out of Renton, Wash.-based Providence, giving the tech giant a foothold in hundreds more hospitals.
Samsung signed an agreement July 8 to purchase Xealth, which combines multiple digital health solutions into one interface and platform. Xealth, which spun out of Providence in 2017, contracts with over 70 digital health companies and 500-plus hospitals, including Charlotte, N.C.-based Advocate Health and Phoenix-based Banner Health.
“We believe the acquisition of Xealth, with its accumulated expertise and extensive healthcare network, will be an anchor to accelerate Samsung’s efforts to support health systems and digital health partners through a truly connected care,” said TM Roh, president and acting head of Samsung’s Device eXperience Division, in a July 8 news release.
The deal is expected to close later this year following regulatory approval.
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