Health IT

Nokia makes digital health play with Withings acquisition

The $192.3 million deal underscores Nokia’s interest in pushing into the digital health investment space following the launch of its $350 million Internet of Things fund in February.

Withings picNokia has said it will acquire Withings, a digital health business that has developed Bluetooth-connected devices such as blood pressure cuffs, activity scales a children’s thermometer as well as wearables. The $192.3 million (€170 million) deal underscores Nokia’s interest in pushing into the digital health investment space.

As part of the deal, Withings CEO Cédric Hutchings will head up the Nokia Digital Health business unit, according to a company statement.

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

In February, Nokia launched a $350 million Internet of Things fund to target investments in digital health as well as areas such as connected enterprise, consumer solutions, and connected cars. Its focus is on capabilities in big data and analytics.

Hutchings said in the statement: “We’re excited to join Nokia and help bring our vision of connected health to more people around the world.”

Hutchings co-founded Withings in 2008 with Eric Carreel, who serves as chairman.  It has 200 employees across its Paris headquarters and offices in  Cambridge and Hong Kong.

Withings developed a children’s thermometer using infrared sensors to measure temperature, which received FDA clearance last year. It also collaborated with Spotify on an alarm clock and developed smartwatches.