Nokia Communications Inc. is upping its strategic focus in digital health wearables by planning to acquire French technology healthcare vendor Withings S.A.
The $191.8 million all-cash deal, which is expected to close in the third quarter, will help Nokia in its goal to become a bigger player in the digital health market—something the company has in the past pointed toward as a strategic interest. The acquisition gives Nokia a portfolio of products to capitalize on with the opportunities the digital health market has to offer.
Nokia points to World Health Organization figures that show cardiovascular disease is the No. 1 cause of death, with more than a billion adults living with uncontrolled hypertension. Diabetes now impacts more than one in 12 adults worldwide. In the Internet of Things healthcare is expected to be one of the largest vertical markets and according to some analysts, will be the fastest-growing segment among healthcare, Nokia says.
Withings manufactures activity trackers, weighing scales, thermometers, blood-pressure monitors, home and baby monitors, and more, allowing consumers to make smarter decisions about the health and wellbeing of their families.
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