The Siesta Group

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February 24, 2010: Philips strengthens sleep diagnostic portfolio through the acquisition of auto-scoring business of The Siesta Group in Austria

Amsterdam, The Netherlands and Vienna, Austria – Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced today that it has acquired the Somnolyzer 24 x 7 automated scoring solutions business of the Siesta Group in Vienna. This FDA-cleared solution will help improve the productivity of sleep centers and is based on the most advanced and clinically validated automated-scoring technology on the market. The Siesta Group is a research and clinical software company specializing in polysomnography scoring solutions for sleep centers. The acquired business will become part of the sleep diagnostics business within Philips Home Healthcare Solutions. Financial details of the agreement were not disclosed.

“With increasing demand for sleep disorder tests, sleep centers, physicians and technicians need tools and services that offer improved scoring consistency and efficiency; enabling them to focus on those parts of the sleep study and other activities that require their professional expertise,“ said Don Spence, CEO of Philips Home Healthcare Solutions. “The Somnolyzer 24 x 7 solution is a strategically valuable addition to Philips’ sleep diagnostic portfolio which will enable us to offer improved sleep lab productivity and further drive growth of sleep diagnostics for our customers and our business.”

Sleep diagnostic testing is expected to continue to grow in the next few years with increasing global awareness of sleep disorders such as Obstructive Sleep Apnea (OSA). In developed markets, automated scoring technology represents an opportunity to improve the productivity of sleep centers. This automated scoring technology can also enable sleep centers in emerging markets to cope with the challenges of increasing demand for sleep diagnostic testing and the scarcity of sleep specialists.

The acquisition of the auto-scoring business of the Siesta Group will further reinforce Philips’ leadership in the strategic growth area of home healthcare, sustaining Philips’ expansion in the sleep diagnostics and OSA therapy markets globally.

The research and clinical trial services business, which are not part of the acquisition, will be retained and continue under the Siesta Group based in Vienna.

For more see here (philips.com)


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