Uncertainty over healthcare is changing the market. It’s still not certain if Obamacare will be repealed, which has placed healthcare investments in limbo.
On the positive side, the future for medical is bright and it’s a great investment for those looking to further their education. What’s more, different organizations and entrepreneurs are looking into health technology as an opportunity for rapid growth. Apple and Nokia (News - Alert) are two of those companies who have created a merger for greater digital health possibilities.
Nokia and Apple’s Patent War Finally Ends
It all started with a dispute over patents. Nokia accused Apple of violating 32 of its patents in the iPhone (News - Alert) design after a deal it made with Apple expired in 2016. The war went on for five long months, and now the two companies believe they have a solution for the problem: Apple (News - Alert) will put Nokia’s digital healthcare products, software and gadgets back on the shelves in its stores.
The two companies will also work together on future healthcare collaborations. With these two teaming up, the future holds excellent possibilities for apps and devices designed for health.
Apple also agreed to pay Nokia a certain amount to maintain the deal. The sum was undisclosed, but analysts predict that it’s between $500 and $600 million.
The two companies released a joint statement in which they closed all litigation for intellectual property rights and expressed their excitement for a multi-year patent license together.
“This is a meaningful agreement between Nokia and Apple,” said Maria Varsellona, Chief Legal Officer at Nokia, responsible for Nokia’s patent licensing business. “It moves our relationship with Apple from being adversaries in court to business partners working for the benefit of our customers.”
Keeping Track of the Deal
The details of the deal will remain confidential; however, the two organizations have worked something out to make sure everyone stays on the same page.
In order to keep things running, monthly, Nokia and Apple executives will have regular summits to maintain a smooth relationship for both parties and their customers. Basically, this is meant to keep one company from getting the upper hand in the deal.
It might seem like a lot of work, but the two organizations seem content with the agreement, unlike their position a month ago. Both executives say they’re looking forward to the collaboration.
Jeff Williams, chief operating officer for Apple, officially stated, “We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokia.”
Basil Alwan, President of Nokia’s IP/Optical Networks business, also openly stated his support of the deal: “This agreement will strengthen our collaboration. We look forward to supporting Apple.”
The executives are on the same page for now, and the parameters of the deal should eliminate future issues with things like patents and intellectual property rights.
A Bright Future for Health Tech
Bringing two major corporations together indicates some exciting new possibilities. Their interest in the health field is even more promising.
Thanks to the current uncertainty of the market, there’s a lot of room for healthcare technology. Consumers demand an easier way to deal with insurance, health tracking, medical data, and even annual doctor’s exams. New tech software is the solution.
Apple has reportedly hired an entire team of biomedical engineers to work in its Silicon Valley location. The nature of the work is meant to be a secret, but rumors abound that Apple’s working on sensors that can monitor blood sugar levels through more non-invasive needs.
For diabetics who have to prick their fingers multiple times per day, this technology would be revolutionary. The cost of medical supplies for those with the condition continues to rise, and it’s a painful process.
Time will tell, but we’re hopeful that Nokia and Apple’s new partnership will yield many useful possibilities for the future of health tech.