INKEF Capital portfolio company Nightbalance acquired by Philips
May 8, 2018; Amsterdam, the Netherlands â€“ Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has acquired NightBalance, a digital health scale-up company based in the Netherlands, that has developed an innovative, easy to use device to treat positional obstructive sleep apnea and positional snoring. Financial details of the transaction were not disclosed.
NightBalanceâ€™s Sleep Position Trainer (SPT) was designed as a comfortable and easy to use treatment alternative for people who suffer from positional obstructive sleep apnea. The SPT gently prompts them not to sleep on their back, avoiding the apneas from occurring during sleep.
â€œWe founded NightBalance in 2009 with the ambition to improve the lives of positional apnea patients worldwideâ€, said Eline Vrijland-van Beest, CEO of NightBalance. â€œI am proud that our innovation is in good hands with Philips. Their strength in connected sleep therapy solutions and global reach will accelerate the accessibility of the Sleep Position Trainerâ€.
INKEF Capital was the largest shareholder in NightBalance and led the series B growth financing in 2016. Post investment INKEF worked closely with founder and CEO Eline Vrijland-van Beest to transition the company into a commercial stage business leading to the acquisition by Philips. INKEF would like to congratulate Eline and the Nightbalance team with this successful transaction.
For more information please contact Dirk Kersten at firstname.lastname@example.org or +31-20-7946060
About INKEF Capital
INKEF Capital is an Amsterdam-based venture capital firm that focuses on long-term collaboration and active support of innovative technology companies. INKEF Capital was founded in 2010 by Dutch pension fund ABP and with â‚¬500 million under management it is one of the largest venture capital funds in the Netherlands. INKEF focuses on investment opportunities in Healthcare, Technology, IT/New Media & FinTech. For more information: www.inkefcapital.com