Business Acquisition in the U.S.
Bosch acquires Health Hero Network
Leading innovator of telehealth solutions
o Products in the health monitoring business
o All associates will become members of the Bosch team
STUTTGART, Germany, Dec. 19 -- The Bosch Group has announced it has acquired a majority share holding in Health Hero Network, a leading innovator in the remote health monitoring business. An agreement to this effect has been reached with the company's shareholders. Terms of the agreement will not be disclosed.
Health Hero Network, headquartered in Palo Alto, California, develops and sells technology solutions that allow the remote monitoring and management of patient health data. "With the innovative products of Health Hero Network, the Bosch Group can help patients with chronic conditions achieve a better quality of life," said project leader Sascha Henke. Since it was founded in 1992, Health Hero Network has been issued 63 patents. The company currently employs 44 associates, all of whom will be retained by Bosch.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 260,000 associates generated sales of 43.7 billion euros in fiscal 2006. The Bosch Group comprises Robert Bosch GmbH and its roughly 300 subsidiary and regional companies in over 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spends more than three billion euros each year for research and development, and in 2006 applied for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and Electrical Engineering."
The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares and voting rights are held by the Bosch family and by Robert Bosch GmbH.
Additional information can be accessed at www.bosch.com.
Source: Bosch Group
CONTACT:
Becky MacDonald,
Director, Operational Communications
of Bosch Group,
+1-248-876-1393,
Fax +1-248-876-1116,
becky.macdonald@us.bosch.com
Web site: www.bosch.com/
