Getinge has announced the acquisition of 100% of the equity interest in Talis Clinical LLC, a US-based innovator of High Acuity cloud-based software solutions.
Talis Clinical’s offer is designed to support and document care throughout the general and cardiac perioperative care process, but also through labor and delivery episodes and critical care support including ECMO Therapy.
“Connecting life-saving medical devices with other data sources and presenting the right data to the right clinician is instrumental in supporting better patient outcomes and lower treatment costs”, says Jens Viebke, President Acute Care Therapies at Getinge. “Talis Clinical enables this by combining state-of-the-art technology with a deep understanding of the real needs in high acquity settings, and will be a key cornerstone in Getinge’s digital strategy moving forward.”
Talis Clinical was founded in 2013 to support patient care and positively impact clinicians and healthcare organizations. The company’s suite of applications is built on a highly innovative and sophisticated platform called Advanced Clinical Guidance (ACG-Engine™). The ACG-Engine comes with interfaces to a wide range of Point Of Care Devices as well as Patient Data Management Systems and includes high value functions that facilitate oversight and process improvements.
The addressable global market is estimated to be more than SEK 50 B, of which half only is in the US. Talis Clinical currently employs 57 persons and the net sales for 2021 is estimated to SEK 40 M. The company has its headquarter in Streetsboro, Ohio, US and will be reported as a part of the business area Acute Care Therapies.
“We are delighted to become part of Getinge”, says Gary Colister, President and Founder of Talis Clinical. “We see incredible synergy in our missions and a tremendous opportunity to patients by working together. Now more than ever, clinicians working in high acuity care areas need scalable solutions that empower and engage them. Getinge will help us reach more clinicians and patients faster than we could have alone.”
At the time of the acquisition, Getinge has paid SEK 596 M for 100% of the equity interest in Talis Clinical LLC on a debt-free basis and subject to customary working capital adjustments. In addition, additional earn-outs may be paid up until 2026 to the extent that the agreed milestone for each earn-out is reached.
Getinge does not expect any material integration costs and the acquisition is not expected to have a material impact on Getinge’s earnings in the near term. The purchase price is financed with available cash previously raised in the Swedish Debt Capital Market.
