Emergency Care Holdings Acquires Philips Emergency Care Business, Launching Global Emergency Care Platform
Transaction establishes a scalable platform positioned for consolidation and growth in a $26B global emergency medical products market
Emergency Care Holdings (ECH), a platform backed by Bridgefield Capital, today announced the completion of its acquisition of the Philips Emergency Care business from Koninklijke Philips N.V. (NYSE:PHG). The business will operate as Heartstream and continue to market select products under a Philips brand license.
The acquisition represents the launch of ECH's global platform strategy focused on building a leading portfolio of emergency medical technology companies serving the pre-hospital care market. The emergency medical products sector exceeds $26 billion globally and is characterized by strong demand, recurring revenue, and long-term demographic and regulatory tailwinds.
Headquartered in Bothell, Washington, the business operates in more than 130 countries, supported by about 480 distribution partners, and maintains an installed base exceeding three million automated external defibrillators (AEDs) and advanced life support (ALS) devices worldwide. It employs more than 600 people globally and is widely recognized for its strong brand equity, clinical credibility and long-standing customer relationships.
"The acquisition provides ECH with a scaled, profitable and globally diversified foundation for platform expansion," said Nestor Benavides, director of operations at ECH. "As a standalone company, the business gains sharper operational focus, enhanced capital flexibility and a clear mandate to accelerate innovation, margin expansion and global growth."
The business brings nearly four decades of leadership in advanced defibrillation and resuscitation technologies, supported by proprietary informatics and connectivity platforms that generate high-value recurring software and service revenue.
"With the backing of ECH, we are positioned to move faster, invest more strategically, and scale our technology roadmap globally," said Ryan Landon, chief executive officer of Heartstream. "This structure strengthens our ability to advance our mission and serve customers while expanding our leadership in emergency care."
"Philips Emergency Care (now Heartstream) provides a compelling foundation for a multi-brand, multi-category emergency care platform," said Todd Mohr, managing director of ECH. "ECH intends to pursue disciplined, complementary acquisitions that expand product breadth, geographic reach and operating leverage."
ECH expects to target acquisitions across adjacent product categories within the broader market segments of pre-hospital and unscheduled care, including advanced patient diagnostics, therapies, services, equipment and informatics. The acquisitions will coordinate across commercial channels, regulatory and logistics infrastructure, and operating platforms to drive margin expansion and accelerated growth.
"This acquisition launches a platform built for scale, operational excellence and long-term value creation," said Bernie Kropfelder, director of ECH and partner at Bridgefield Capital. "We see a significant opportunity to consolidate a fragmented global market while expanding access to life-saving technologies worldwide."
ABOUT EMERGENCY CARE HOLDINGS
Emergency Care Holdings (ECH) is a platform developed by Bridgefield Capital to acquire and scale leading companies in the emergency medical products sector. ECH focuses on sharpening operations, accelerating innovation and expanding access to reliable, life-saving technologies used by first responders, health systems and communities around the world. For more information, visit www.emergencycareholdings.com.
ABOUT BRIDGEFIELD CAPITAL
Founded in 2015, Bridgefield Capital is a private investment firm led by Joseph Mathews and Richard Foster. Specializing in mid-sized companies navigating transitions or positioned for growth, Bridgefield has a proven track record of unlocking value and driving sustainable growth.
Bridgefield brings the resources, strategic insights, and operational expertise necessary to help businesses thrive as independent entities. The firm is particularly skilled in executing complex corporate carveouts, transitioning high-potential divisions from larger parent corporations into focused, high-performing operations. By supporting corporate focus, optimizing management practices, and executing strategic growth initiatives, Bridgefield consistently creates self-sustaining companies that deliver exceptional long-term value. For more information, visit www.bridgefieldcapital.com.
ABOUT HEARTSTREAM
Heartstream is a global emergency care company focused on life-saving defibrillation and resuscitation technologies. Formerly operating as part of Philips' Emergency Care business, Heartstream builds on decades of innovation behind the Philips HeartStart AED portfolio. Under a long-term brand licensing agreement, Heartstream continues to manufacture and market emergency care products under the Philips brand while operating as a standalone company backed by Emergency Care Holdings. For more information, visit www.heartstream.com.
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