Qualcomm Exploring Sale Of A Majority Stake In Tele-Health Subsidiary
The potential sale is unsurprising in the wake of Qualcomm’s promise to cut costs. To trim expenses, Qualcomm has announced around 1,800 layoffs in the U.S. so far – including 1,300 in San Diego.
The San Diego Union-Tribune:
Amid Cost Cuts, Qualcomm Eyes Partial Sale Of Health Tech Subsidiary Qualcomm Life
Qualcomm is exploring the sale of a majority stake in its tele-health subsidiary Qualcomm Life as part of its pledge to shave $1 billion in annual costs, according to sources familiar with the matter. The San Diego cellular technology giant intends to retain minority ownership of Qualcomm Life, which is now a wholly owned subsidiary, according to sources who asked not to be identified. Qualcomm has hired advisers, said sources. The potential deal has generated interest from private equity firms and strategic investors, which could include medical hardware/software outfits and technology companies looking to expand into the health tech sector. (Freeman, 6/21)