Withings

Withings is the French producer of "smart" electronics for maintaining a healthy lifestyle. The range of private company includes fitness trackers, scales, thermometers, tonometers and also observation systems behind the house and the child. As of the end of April, 2016 the staff of Withings totals about 200 people working at three offices (France, the USA and Hong Kong).

2020: Attraction of $60 million investments

At the end of July, 2020 the producer of the medical equipment Withings which once was a part of Nokia attracted $60 million investments. The company concentrated the efforts on development of the medical equipment for data processing and the personalized leaving and intends to use the received means for expansion of the division of MED PRO.

The main investors acted as Withings IDinvest Partners, Bpfrance and BNP Paribas Développement, ODDO BHF and Adelie Capital. The received means will go for expansion of B2B-business of MED PRO in which founders of the company see the future. The CEO of Withings Mathieu Letombe explained that the company intends to go deep into the industry of health care and to focus on products and services of medical level.

The producer of the medical equipment Withings attracted $60 million investments

We see serious demand in this area, in such aspects of health care as the program of prevention of diabetes and arterial hypertension. Besides hospitals, the insurance and pharmacological companies need reliable medical devices which allow to collect and process huge data arrays.

According to Letomba, Withings has advantage over traditional suppliers of the medical equipment as the company was engaged many years in creation of exact and user-friendly devices which allow to keep track of the state of health. Now the company switched the attention to development of different products of exclusively medical appointment, from intelligent monitors of arterial blood pressure, to the scales measuring the percentage of body fat, and contactless thermometers. The new impulse to development of the company was given by a coronavirus pandemic because of which demand for similar devices sharply grew.^[1]

2018: Nokia sold medical business to the co-founder of Withings

At the beginning of May, 2018 Nokia announced sale of medical business to Eric Carreel, cofounder and former chairman of the board of directors of Withings company. Read more here.

2016: The company is sold to Nokia

On April 26, 2016 the producer of telecommunication equipment Nokia announced acquisition of Withings for 170 million euros. Due to this purchase which will be paid with cash the Finnish company expects to strengthen positions in the market of Internet of Things (Internet of Things, IoT).

Nokia is going to close the transaction on merger of Withings in the third quarter 2016, at first regulating authorities should approve it. As soon as all formalities concerning sale to the French company are executed it will be a part of the division of Technologies Nokia specializing in licensing of technologies and development of a number of consumer devices (tablets, cameras for creation of virtual reality, etc.). The head of Withings Cedric Hutchings will submit to the head of Technologies Nokia Ramzi Haidamus.

Nokia buys the developer of "smart" medical devices Withings for 170 million euros

We do not cease to repeat that the digital health care is area of strategic interests of Nokia, and now we undertake specific measures for implementation of opportunities in this large and important market" — the president and the CEO of Nokia Rajeev Suri says. — Due to this acquisition of Nokia strengthens positions in the market of Internet of Things, using force of our credible brand. It answers our purpose on expansion of human opportunities in the world of network technologies and puts us in the center of target market where we can diversify lives of people.[2]

Notes