Connect America LLC signed a definitive agreement to acquire Philips Aging and Caregiving Business from Koninklijke Philips N.V. (ENXTAM:PHIA) on May 5, 2021. Philips will maintain an equity stake in the company. Until close, the two companies will continue to operate fully independently and competitively. The transaction is subject to regulatory approvals and is expected to close in the weeks ahead. As of May 11, 2021, the transaction is expected to close in the second quarter of 2021. William Blair & Company, L.L.C. acted as financial advisor to Connect America.

Connect America LLC completed the acquisition of Philips Aging and Caregiving Business from Koninklijke Philips N.V. (ENXTAM:PHIA) on June 30, 2021.