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Meet Nokia, the digital health company

Former mobile phone giant acquires connected health firm Withings for €170m

Nokia digital health WithingsErstwhile mobile phone giant Nokia has made its first entry into the digital health arena, with the planned acquisition of connected health business Withings.

The company, whose products include sleep and activity trackers and connected scales, will become part of Nokia's Technology business once the €170m deal is concluded.

Rajeev Suri, president & CEO of Nokia, said: "We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market.

"With this acquisition, Nokia is strengthening its position in the Internet of Things in a way that leverages the power of our trusted brand, fits with our company purpose of expanding the human possibilities of the connected world, and puts us at the heart of a very large addressable market where we can make a meaningful difference in peoples' lives." 

Nokia's Technology business focuses on digital health, digital media, brand licensing and patent licensing and was formed in 2014, the same year its mobile phone business was sold to Microsoft for €5.4bn. 

The firm said its new deal with Withings would 'accelerate' its entry into the realm of digital health.

Ramzi Haidamus, president of Nokia Technologies, said: "Withings shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives.

"Combining their award-winning products and talented people with the world-class expertise and innovation of Nokia Technologies uniquely positions us to lead the next wave of innovation in digital health."

The company wants to be a “global leaders” in digital healthcare, Haidamus told The Financial Times, and he said Nokia will build a range of consumer health and fitness trackers.

3rd May 2016

From: Healthcare

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