Qualcomm Sells Medical Device Connectivity Business to PE Firm
Summary
Francisco Partners, a San Francisco-based private equity firm, said Monday it has acquired Qualcomm Life, a subsidiary of the San Diego chipmaker that focuses on connecting medical devices to software applications installed at hospitals and other healthcare organizations. Capsule, founded in 1997 and acquired by Qualcomm in 2015, sells hospitals software to connect medical devices with clinical information systems. The second business segment within CapsuleTech is 2net, a wireless medical device connectivity platform Qualcomm launched in 2011. “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,” Chris Adams, partner with Francisco Partners, said in the release. Qualcomm Life president Rick Valencia will act as an advisor to CapsuleTech as it transitions from subsidiary to standalone company, according to Francisco Partners.
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