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Tech-giants allegedly interested in Nokia’s digital health unit

Both Samsung and Google’s Nest could be gearing up for a takeover bid

Nokia digital health

Nokia could be selling its digital health unit just two years after acquiring it, according to a report by wareable, and if the rumours are anything to go by, then the Finnish company won’t struggle to find buyers either.

Potentially set for a showdown, tech-giant Samsung and smart home appliance maker Nest - who recently merged with Google - are just two companies rumoured to have thrown their hat in the ring for a possible takeover bid of the unit, which was previously known as Withings.

Nokia initially bought out the business back in 2016 for €170m, however, it has since been struggling to gain ground according to a leaked memo earlier this year, stating that the company “didn’t see a path forward” for the division.

Moreover, a strategic review of the digital health business is currently underway and this “may or may not result in any transaction or other changes”, according to Nokia.

However, both Samsung and Google are no strangers to the digital healthcare space, with the former recently announcing their plans to tackle healthcare challenges with digital technology.

“Samsung has a deep history in healthcare, tracing back to the early 1990s with the opening of the Samsung Medical Center in Korea,” said Dr David Rhew, chief medical officer and head of healthcare and fitness, Samsung Electronics America.

“We have built on that heritage by developing transformative digital health solutions that improve the health and well-being for the healthy, and aged to create a better world.”

Similarly to Samsung, Google has also made advancements in the digital healthcare field collaborating with the likes of Bayer and the NHS.

However, according to the report, the French government is banking on the business selling to a French firm in the hopes of bolstering the country’s AI offering, but this potential outcome remains to be seen.

Article by
Gemma Jones

24th April 2018

From: Sales

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