Masimo will pay $47.25 million upfront to acquire the connected care business of Culver City, Calif.–based NantHealth.

NantHealth’s connected care business provides medical device interoperability to hospitals and health systems, with products including DCX device connectivity (formerly known as DeviceConX), VCX patient vitals software (formerly known as VitalsConX), the HBox connectivity hub, and Shuttle interface cable.

Masimo officials think the acquisition will boost the company’s goal of providing more hospital automation, connectivity and innovative noninvasive monitoring technologies.

“Through connectivity, predictive algorithms and decision support, we hope to improve the continuum of great care. The connectivity assets we are acquiring are completely in line with our mission as they will help accelerate our internal growth initiatives in this area,” Masimo CEO Joe Kiani said in a news release.

The connected care business at NantHealth includes products that complement Masimo’s existing offerings, Kiani added.

Also today, Masimo announced preliminary revenue numbers of $934 million to $937 million for its fiscal year ended Dec. 28, 2019, with earnings per share expected to exceed the company’s guidance of $3.37 and $3.18 per diluted share. Wall Street analysts on average have predicted earnings of $3.17 per share off $947.01 million in revenue, according to Yahoo! Finance.

For 2020, the company’s ballpark projects include revenue of $1.035 billion, GAAP earnings per share of $3.64, and non-GAAP earnings per share of $3.56 — the revenue projection slightly below the expectations of The Street, while the expected earnings are in line.

Masimo stock was down 1.32%, to $162.82 per share, by midday trading.