Philips to Sell Emergency Care Unit to Bridgefield Capital (1)

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.

While Philips didn’t disclose the deal’s financial details, the unit has around 500 employees and less than €200 million ($209 million) in annual sales, according to a person familiar with the matter. It also has a relatively low profitability, the person said, speaking on condition of anonymity.

Philips shares rose as much as 1.6% after the news. The stock has gained around 35% over the past year.

The Amsterdam-based manufacturer is trying to regain shareholder and ...