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Philips completes the acquisition of BioTelemetry, Inc.

February 9, 2021

Combination of Philips and BioTelemetry results in a global leader in patient care management solutions for the hospital and the home

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has completed the acquisition of BioTelemetry, Inc. (NASDAQ: BEAT), a leading U.S.-based provider of remote cardiac diagnostics and monitoring. BioTelemetry’s financial results will be consolidated as part of Philips’ Connected Care business segment as of February 9, 2021.

The acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated solutions. Philips’ patient care management solutions for the hospital include real-time patient monitoring, therapeutic devices, telehealth and informatics. Moreover, Philips has an advanced and secure cloud-based Philips HealthSuite digital platform optimized for the delivery of health care across care settings.

With 2020 sales of USD 450 million, BioTelemetry adds a complete range of clinically validated ambulatory cardiac diagnostics and monitoring services: Short-term Holter monitoring services, Long-term Holter monitoring services, Event recorder services, and Mobile Cardiac Outpatient Telemetry (MCOT) services. BioTelemetry has built one of the world’s largest remote cardiac monitoring services networks, providing services for over one million patients per year. Additionally, BioTelemetry has a clinical research business that provides testing services for clinical trials.

“The combination of Philips’ leading patient care management portfolio in the hospital with BioTelemetry’s leading cardiac diagnostics and monitoring portfolio outside the hospital will result in a global leader in patient care management solutions for the hospital and the home for cardiac and other patients,” said Frans van Houten, CEO of Royal Philips. “With our collective portfolios, and our healthcare informatics and services platforms, we will be in an optimal position to improve patient care across care settings for multiple diseases and medical conditions.”

Financials
BioTelemetry and its approximately 1,900 employees will become part of Philips’ Connected Care business segment. The acquisition is projected to be nominal sales growth and adjusted EBITA margin [1] accretive for Philips in 2021. Philips targets significant synergies driven by cross-selling opportunities, geographical expansion, and portfolio innovation synergies, such as Philips’ HealthSuite digital platform. Additionally, Philips will drive operational performance improvements through its proven productivity programs. The BioTelemetry business is expected to grow double-digits and to improve its Adjusted EBITA margin to more than 20% by 2025.

Transaction
The acquisition of BioTelemetry was structured as a merger under Section 251(h) of the General Corporation Law of the State of Delaware following the successful completion of Philips’ previously announced tender offer to purchase all outstanding shares of common stock of BioTelemetry for USD 72.00 per share in cash, without interest, less any applicable withholding taxes. As a result of the merger, all remaining BioTelemetry shares were converted into the right to receive USD 72.00 per share in cash, without interest, less any applicable withholding taxes.

BioTelemetry has requested that NASDAQ files a Form 25 with the United States Securities and Exchange Commission causing the delisting of BioTelemetry’s common stock from NASDAQ. BioTelemetry’s common stock ceased trading prior to the opening of trading on February 9, 2021.

[1]  Adjusted EBITA is defined as income from operations excluding amortization of acquired intangible assets, impairment of goodwill and other intangible assets, restructuring charges, acquisition-related costs and other significant items.

For further information, please contact:

Steve Klink
Philips Global Press Office
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

About BioTelemetry
BioTelemetry, Inc. is the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care.  The company provides remote cardiac monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment manufacturing that serves both healthcare and clinical research customers.  More information can be found at www.gobio.com.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

Attachment

Telesat to Redefine Global Broadband Connectivity with Telesat Lightspeed, the World’s Most Advanced Low Earth Orbit (LEO) Satellite Network

Thales Alenia Space Selected to Manufacture First-of-its-kind Dynamic LEO Broadband Network with Services Starting in 2023

OTTAWA, Feb. 09, 2021 (GLOBE NEWSWIRE) — Telesat, one of the world’s largest satellite operators, announced today that it has entered into an agreement with Thales Alenia Space to be the prime manufacturer of Telesat’s global LEO constellation, Lightspeed, initially comprised of a fleet of 298 next-generation satellites integrated with an advanced ground network. Lightspeed is the most innovative, cutting-edge broadband satellite network ever conceived. Thales Alenia Space and its affiliate Telespazio have made a Lightspeed capacity commitment in connection with the agreement.

Telesat and Thales Alenia Space have engaged in substantial and sustained collaboration on Lightspeed’s innovative design. Specifically, Lightspeed has been optimized to serve the fast-growing broadband connectivity requirements of fixed and mobile network operators, aeronautical and maritime users, enterprise customers and governments. Operating under Telesat’s global Ka-band priority spectrum rights, the first Lightspeed satellites are expected to be launched in approximately two years, with customer beta testing beginning shortly thereafter and commercial services commencing in the second half of 2023.

“We are very pleased to be moving forward with Thales Alenia Space on Lightspeed, the most advanced and capable LEO network in the world,” stated Dan Goldberg, President and CEO of Telesat. “As the world’s leader in manufacturing and implementing cutting edge global satellite constellations, Thales Alenia Space is the right industrial partner to deliver Lightspeed, a fully integrated global communications network that will revolutionize satellite-delivered broadband and give Telesat and its customers a decisive competitive edge in this high growth market.”

Goldberg added: “The name Lightspeed underscores the essential speed advantages inherent to Telesat’s LEO design. Lightspeed is the most technologically capable satellite communications network in history and exploits the latest advances in space-based data processing, laser communications, digital antenna technology and machine learning.”

Lightspeed will provide fibre-like connectivity across the entire Earth at price points that allow network operators to efficiently and economically enhance their network coverage, performance and profitability. Designed with a deep understanding of the bandwidth intensive applications and cloud-based network connectivity that users require, Lightspeed will eliminate the hurdles that telecommunications service providers face today when incorporating satellite into their networks.

Operating roughly just 1,000 kilometers above Earth in LEO, Lightspeed will be free from the long latency delays and capacity limitations that are inherent to satellites in geostationary and medium Earth orbits. In addition, Lightspeed satellites incorporate leading-edge technologies and features, including:

  • Sophisticated phased array antennas on each satellite that are combined with advanced beam hopping technology to create approximately 135,000 beams that can dynamically focus multiple Gbps of capacity – an order of magnitude higher than any other system – into demand hot spots like remote communities, large airports or major sea ports;
  • Nearly 1,200 high capacity optical links – four on each satellite – that combine to create a first-ever, highly resilient, flexible and secure space-based IP network, moving data across the network and around the world at the speed of light;
  • Data processing in space, including full digital modulation and demodulation on the satellite, coupled with a revolutionary end-to-end network operating system, that improves link performance and gives customers unprecedented flexibility for routing traffic across the globe, eliminating gateway hops for the fastest, most secure, end-to-end delivery of data; and
  • A patent-pending architecture for the constellation of satellites, which features satellites operating in both polar and inclined orbital planes. This results in true pole-to-pole global coverage, concentrating capacity in areas where it is most needed to maximize network efficiency and achieve superior unit cost economics.

Telesat is developing affordable end-user terminals, with a range of antennas and modems optimized for each of the market verticals Lightspeed will serve. In addition, Lightspeed leverages industry-wide network interface standards to enable simple, seamless integration with customers’ terrestrial networks, without the need to integrate proprietary hardware or software.

Under the terms of the Agreement, the parties have provided for the advancement of the program while the financing for the project is being finalized. The commencement of full construction activities and the final constellation deployment schedule are subject to, and conditional upon, the progress of the financing for the program.

As a responsible owner and operator of space assets for nearly 50 years, Telesat has designed and will operate the Lightspeed satellites in a manner that ensures that LEO orbits are safely available for other users and that the night sky is safeguarded for astronomical observation.

More details about Lightspeed can be found at https://www.telesat.com/lightspeed. Related resource: Lightspeed Specifications

About Telesat

Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat has grown to be one of the largest and most successful global satellite operators. Telesat works collaboratively with its customers to deliver critical connectivity solutions that tackle the world’s most complex communications challenges, providing powerful advantages that improve their operations and drive growth. Operating under its global priority Ka-band spectrum rights, Lightspeed, Telesat’s Low Earth Orbit network, will redefine global satellite connectivity with ubiquitous, affordable broadband links and fibre-like speeds.

Privately held and headquartered in Ottawa, Canada with offices and facilities around the world, Telesat’s principal shareholders are Canada’s Public Sector Pension Investment Board and Loral Space & Communications Inc. (NASDAQ: LORL). For more information, visit www.telesat.com.

Media contacts:

KWT Global for Telesat
telesat@kwtglobal.com

Forward-Looking Statements Safe Harbor

This news release contains statements that are not based on historical fact and are ”forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “will”, “can”, “are expected,” or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. Detailed information about some of the known risks and uncertainties is included in the “Risk Factors” sections of Telesat Canada’s Annual Report on Form 20-F for the fiscal year ended December 31, 2019 and in Telesat Canada’s Quarterly Report on Form 6-K for the quarters ending March 31, 2020, June 30, 2020, and September 30, 2020, all of which can be obtained from the SEC website.

Known risks and uncertainties include but are not limited to: risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance, the impact of COVID-19 on Telesat’s business and the economic environment, the ability to successfully deploy an advanced global LEO satellite constellation, the availability of government and/or other funding for the LEO satellite constellation, the receipt of proceeds in relation to the re-allocation of C-band spectrum, volatility in exchange rates, the ability to expand our existing satellite utilization and risks associated with domestic and foreign government regulation. The foregoing list of important factors is not exhaustive. The information contained in this news release reflects Telesat’s beliefs, assumptions, intentions, plans and expectations as of the date of this news release. Except as required by law, Telesat disclaims any obligation or undertaking to update or revise the information herein.

PRESAGIS Selected to Provide Software Tools and Services to Meet Boeing’s Future Avionics User Interface Development Needs

VAPS XT, UA Accelerator and UA Emulator to become part of Boeing’s development tools suite

ORLANDO, Fla., Feb. 09, 2021 (GLOBE NEWSWIRE) — PRESAGIS, a technology innovator and a leading provider of graphical user interface development tools and software, is pleased to announce that its products have been chosen to provide Human-Machine Interface (HMI) development capabilities to Boeing.

Initiated in 2019, the multi-year agreement provides Boeing with PRESAGIS’ line-up of innovative and intuitive software tools and support to satisfy its graphical user interface development needs through the following products:

  • The VAPS XT suite of tools for developing embedded graphics displays. Supporting both standard design techniques and the ARINC 661 Standard, the tools enable development of ARINC 661 widgets and Binary Definition Files. The suite includes graphics server source code, used to deploy complete ARINC 661-conformant Cockpit Display Systems (CDS).
  • UA Accelerator and UA Emulator. The UA Accelerator tool for development of ARINC 661 User Applications, and UA Emulator for debugging and verification of ARINC 661 systems, have also been selected, giving a complete development environment for ARINC 661 systems.
  • DO-178C certification. Certification kits including DAL A evidence for each of these products to reduce development risk and time to market.

Use of these software tools enables engineers to design, prototype, verify and deploy systems that can be certified to the highest levels.

“We are pleased to be able to support Boeing’s graphical user interface development projects by providing them with our full set of software tools and capabilities,” said Paul Jennings, Head of Embedded Graphics at PRESAGIS. “PRESAGIS’ customers have used our HMI graphical modeling and development tools to successfully create and deploy software for more than thirty years,” he added.

PRESAGIS’ graphics development tools are an open and extensible COTS graphical HMI modeling and development software suite. These tools provide solutions for building real-time applications supporting Standard and ARINC 661 certifiable and non-certifiable safety-critical environments. VAPS XT is an easy-to-use yet powerful full-featured software tool for the rapid development of interactive graphical HMI displays for avionics and other applications. UA Accelerator and UA Emulator complement VAPS XT when designing an ARINC 661 System, linking graphics layout development with development of the UA system model, code generating the ARINC 661 interface code, and supporting a full verification and debugging environment for ARINC 661 Protocol. This full set of software tools allows a user to capture the design of an HMI, automatically generate source code to implement that design, deploy the design to one or more target platforms, and ultimately achieve DO-178C certification.

About PRESAGIS

PRESAGIS is a global leader providing commercial modeling, simulation and user interface development tools software to the aerospace, defense and security, and critical infrastructure markets. PRESAGIS is at the forefront of avionics software design for certifiable cockpit displays. PRESAGIS also combines an open simulation development framework with expert professional services to help customers streamline development workflows, reduce project risks, and deliver game-quality immersive simulations. The company serves hundreds of customers worldwide, including many of the world’s most respected organizations such as Boeing, Airbus, Collins Aerospace, Lockheed Martin, BAE Systems, Leonardo, Thales and CAE among others. For more information, visit www.presagis.com.

For more information contact:

Carlos Carpio
Marketing Manager, Embedded Graphics, Presagis

carlos.carpio@presagis.com | 514.341.3874 ext. 4374

Teledyne Imaging Begins a New Era in Large Area CMOS Imaging

WATERLOO, Ontario, Feb. 09, 2021 (GLOBE NEWSWIRE) — Teledyne Imaging, part of Teledyne Technologies [NYSE: TDY], is proud to introduce LACera™, a significant step forward in CMOS capabilities for advanced imaging which will enable the next generation of scientific discovery. Exclusively developed by Teledyne Imaging, LACera advanced imaging technology draws on Teledyne’s decades of expertise in CMOS sensor and camera development.

Scientific imaging, spanning x-ray to near infrared (NIR) regions, is critical to emerging applications in life and physical sciences. Applications as diverse as next generation genomics, astronomical photometry, ultra-high-resolution x-ray and electron imaging require CMOS sensors and cameras with low light sensitivity and speed. LACera CMOS technology delivers greater than 90% quantum efficiency and proprietary low noise architecture with up to 18-bit readout – a combination of performance not previously available in wafer scale sensors.

LACera technology will be exclusively featured in next generation CMOS cameras to be announced later this year and includes x-ray, EUV and VIS-NIR versions. With vast CMOS sensor and camera design capabilities, Teledyne is ready to serve the next generation of research and OEM customers. Visit www.LargeAreaCMOS.com for additional information on LACera CMOS technology.

About Teledyne Imaging

Teledyne Imaging is a group of leading-edge companies aligned under the Teledyne Technologies umbrella. Teledyne Imaging forms an unrivalled collective of expertise across the spectrum with decades of experience. Individually, each company offers best-in-class solutions. Together, they combine and leverage each other’s strengths to provide the deepest, widest imaging and related technology portfolio in the world. From aerospace through industrial inspection, scientific research, spectroscopy, radiography and radiotherapy, geospatial surveying, and advanced MEMS and semiconductor solutions, Teledyne Imaging offers world-wide customer support and the technical expertise to handle the toughest tasks. Their tools, technologies, and vision solutions are built to deliver to their customers a unique and competitive advantage.

All trademarks are registered by their respective companies.
Teledyne Imaging reserves the right to make changes at any time without notice.

Media Contact: 
Geralyn Miller
Senior Manager, Global Media Relations
Tel: +1-519-886-6001 ext. 2187
Email: geralyn.miller@teledyne.com

Philips successfully completes tender offer for BioTelemetry, Inc.

February 9, 2021

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has successfully completed its previously announced tender offer (the “Offer”) to purchase all outstanding shares of BioTelemetry, Inc. (NASDAQ: BEAT), a leading U.S.-based provider of remote cardiac diagnostics and monitoring for USD 72.00 per share in cash. At 12:00 midnight, New York time, on February 9, 2021 (one minute after 11:59 P.M., New York time, on February 8, 2021), the Offer expired as scheduled and was not extended. Philips expects to complete the acquisition of BioTelemetry later today through a merger under Section 251(h) of the General Corporation Law of the State of Delaware.

American Stock Transfer & Trust Company, LLC, the depositary for the Offer (the “Depositary”), has advised that, as of the expiration of the Offer, a total of 27,182,062 shares had been tendered into and not validly withdrawn from the Offer, representing approximately 78.96 % of BioTelemetry’s outstanding shares and a sufficient number of shares such that the minimum tender condition to the Offer was satisfied. Additionally, the Depositary has advised that an additional 1,569,222 shares had been tendered by notice of guaranteed delivery, representing approximately 4.56% of BioTelemetry’s outstanding shares. Accordingly, all shares that were validly tendered and not properly withdrawn were accepted for payment and Philips will promptly pay for all such tendered shares in accordance with the terms of the Offer.

As a result of the merger, BioTelemetry will become a wholly owned subsidiary of Philips. In the merger, each share of BioTelemetry (other than those shares held by Philips, Philips Holding USA Inc., a Delaware corporation and a wholly owned subsidiary of Philips, Davies Merger Sub, Inc., a Delaware corporation  and a wholly owned subsidiary of Philips Holding USA Inc., or BioTelemetry or any of their respective subsidiaries or shares held by any stockholder who properly demand appraisal under Delaware law) will be cancelled and converted into the right to receive the same USD 72.00 per share in cash, without interest, less any applicable withholding taxes, that was paid in the Offer. Following completion of the merger, the common stock of BioTelemetry will no longer be listed for trading on the NASDAQ Global Select Market.

For further information, please contact:

Steve Klink
Philips Global Press Office
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

About BioTelemetry
BioTelemetry, Inc. is the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care.  The company provides remote cardiac monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment manufacturing that serves both healthcare and clinical research customers.  More information can be found at www.gobio.com.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

IFG Ends Successful IP Infringement Case in South Africa

BAKERSFIELD, Calif., Feb. 09, 2021 (GLOBE NEWSWIRE) — INTERNATIONAL FRUIT GENETICS LLC (IFG) After several years of sometimes acrimonious lawsuits, IFG has finally come to the end of infringement proceedings in which it sought to protect its proprietary grape varietals in the Western Cape, South Africa.

During 2010, IFG concluded a suite of licensing, planting, and marketing agreements with a table grape grower in Paarl, South Africa, as well as other associated farming entities. In terms of the agreements, the grower was licensed to plant, grow and market several IFG grape varieties in South Africa, which was done successfully over several years. However, during an inspection, IFG determined that this grower had unlawfully propagated some of the varietals beyond license limits and was growing and propagating an IFG varietal before protection for the variety was granted in South Africa. Upon further investigation, IFG determined that the grower had stolen a slip of the varietal from one of the IFG founder’s vineyards in California while visiting and had transported it to South Africa, where it was grafted, propagated, and commercially grown.

Due to the growers’ unlawful conduct, IFG canceled all of the agreements it had with the licensee and asked that the grower to cease all use of IFG’s proprietary plant material and destroy all IFG proprietary plant material by cutting off all vines below the graft union. Unfortunately, the grower refused to do so, forcing IFG to take more drastic measures, including the freezing of bank accounts and contempt of court proceedings for failure to comply with the court’s orders.

Ultimately, when it became clear to the grower that IFG was taking the necessary steps required to protect their intellectual property, the grower agreed and complied by cutting the vines below the graft union on all IFG varietals.

This case marks a stunning success for IFG and for all owners of plant breeders’ rights, which are an extremely valuable form of intellectual property. Respect of these rights allows breeders globally to make the continued investments, ensuring that the table grape industry has a bright and vibrant future.

“It was a long road, and we are glad to come to the end of it, but we have no regrets,” said Andy Higgins, CEO of IFG. “Our intellectual property rights are the heart of our business, and we need to protect them. We will not hesitate to take similar action in other parts of the world should there be a need to do so.”

For more information, visit www.ifg.world

Media Contact:

Olivia Riley
Bastion Elevate
949-522-0549
olivia@bastionelevate.com

Akur8 and Xceedance Announce Strategic Partnership

Delivery of state-of-the-art pricing solutions to insurers is a key objective of the new relationship.

PARIS and BOSTON, Feb. 09, 2021 (GLOBE NEWSWIRE) — Akur8 and Xceedance today announced a strategic partnership to deliver best-in-class actuarial and analytics solutions to insurance organizations.

The partnership between Xceedance and Akur8 provides an opportunity for insurers to gather extensive insights from internal or external data sources, enrich rate-making processes, and gain access to advanced actuarial expertise. By leveraging modern technology from Akur8 and industry proficiency from Xceedance, insurers can realize immediate and tangible improvements in operational performance. Benefits to insurers include increased rate-making process efficiency, faster time-to-market, and enhanced governance and compliance in the rating process, as well as top-line and bottom-line growth potential.

“Akur8 is excited to join forces with Xceedance, a leading and recognized expert in the actuarial services landscape,” said Samuel Falmagne, CEO at Akur8. “By combining our resources, we can deliver a strong actuarial value proposition to insurance organizations — leveraging our unique ratemaking platform and top-notch actuarial expertise from Xceedance.”

The unique Akur8 insurance pricing platform leverages an innovative combination of proprietary machine learning (ML) algorithms and transparent artificial intelligence (AI) — which allows actuarial and predictive modelling teams to significantly increase speed-to-accuracy, without sacrificing auditability and control.

“The Akur8 platform is distinctive in the pricing landscape, with an innovative approach to incorporating data science in the ratemaking process,” said Matthew Duke, chief actuary, head of global actuarial and analytics services at Xceedance. “Automation of critical steps in the predictive modelling process significantly reduces time-to-market, while maintaining high levels of precision and transparency. The Akur8 solution, combined with actuarial and analytics services from Xceedance, creates a powerful offering for insurance organizations worldwide.”

Technology enablement is a key focus for the Xceedance actuarial and analytics services team. By combining its offerings with strategic partnerships globally, Xceedance supplies a comprehensive suite of technology-driven solutions to insurers and reinsurers of all sizes. Companies with actuarial and analytics infrastructure can benefit from a streamlined deployment, while organizations with limited resources can access those solutions via advisory and consulting services from Xceedance.

About Akur8
Akur8 is transforming insurance pricing with Transparent AI. Our proprietary ML algorithms automate rate making while preserving control and transparency throughout the process. We replace the manual processes of legacy solutions and the need to build and maintain large codebases through custom R/Python developments, while maintaining an output that is understandable & auditable, unlike black-box ML.

About Xceedance
Xceedance is a global provider of strategic consulting and managed services, technology, and data sciences to insurance organizations. The company helps insurers launch products, drive operations, implement intelligent technology, deploy advanced analytics, and achieve business process optimization. The experienced insurance professionals at Xceedance enable insurers worldwide to enhance policyholder service, enter new markets, boost workflow productivity, and improve profitability.

Media Contacts:

Astrid Noel (for Akur8)
+33 (0)7 68 24 93 27
astrid.noel@akur8-tech.com

Jennifer Overhulse, St. Nick Media (for Xceedance)
+1 859 803 6597
jen@stnickmedia.com