Halma, a British group of safety equipment companies that make products for hazard detection and life protection, acquired PeriGen, which uses an artificial intelligence-enabled clinical decision support tool for obstetrics, for $58 million in cash.
PeriGen has developed an automated early warning system and clinical decision support system for obstetrics, designed to enhance clinical efficiency, timely intervention, and standardization of care.
The company’s software tracks hundreds of patients across multiple sites, continuously sorting and color-coding them according to defined parameters and notifying clinicians based on the degree and duration of abnormality, the company said. According to the company, the software system also analyzes maternal vital signs, fetal heart rate, contractions, and labor progression, using artificial intelligence and other analytical techniques.
According to the company’s press announcement, PeriGen’s revenue for the 12 months to the end of March 2021 was nearly $20 million. PeriGen will be managed as a standalone company and will become part of Halma’s Medical sector.
Andrew Williams, Group Chief Executive of Halma, said: “We are excited by the opportunities offered by PeriGen’s digital technology in helping clinicians protect the health of mothers and babies during childbirth, while achieving better clinical outcomes in the increasing proportion of complex births. PeriGen is highly aligned with our purpose, broadens our presence in patient assessment and monitoring into the US perinatal care market, and further extends our artificial intelligence and analytics capabilities.”
Sixty-three digital health companies were acquired in Q1 2021, compared to 52 M&A transactions in Q4 2020. Holmusk, a data science and digital health company building a Real-World Evidence platform for behavioral health, acquired Otsuka Health Solutions (OHS), a UK-based predictive mental health analytics provider. The financial terms of the deal were not disclosed.