Royal Philips NV is selling its emergency care business to US-based investment firm Bridgefield Capital to focus on larger units that are more profitable.

Philips has signed an agreement for the sale of its Emergency Care business to US-based investment firm Bridgefield Capital. Big Tech earnings, a key Fed meeting, and Trump's first full week in office: What to know this week

The deal includes a licensing agreement that allows the sold business to use the Philips brand for up to 15 years.

Investment firm Bridgefield Capital will buy the segment, which includes cardiac resuscitation and emergency care devices, for an undisclosed amount.

Philips is parting ways with its worldwide emergency care business, including its catalog of automated external defibrillators and other hardware used inside and outside the hospital, thr | While Bridgefield will serve as the division’s new owner,

Philips will sell its emergency care business to investment firm Bridgefield Capital for an undisclosed amount. The deal is expected to close later this year, the companies said Tuesday.