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Nokia sells Withings health division in restructuring effort

The health tech company is returning to co-founder Eric Carreel.

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Withings co-founder Eric Carreel has re-assumed control over the company following its sale by Nokia.

Withings

Withings has returned to the ownership of co-founder Eric Carreel following Nokia's decision to sell off the company.

The French health technology company, which Carreel co-founded with Cedric Hutchings in 2008, was purchased by Nokia for 170 million euros, about $204 million, in 2016 and re-branded as Nokia Health. 

It will revert to its original name as part of the sale.

"I am delighted to start working again with the brilliant teams that made the brand such a great success," Carreel said in a statement. "We have an exciting challenge ahead of us as we continue to push the boundaries of connected health."

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The sale of Withings is part of Nokia's honed focus on becoming a business-to-business and licensing company. The company has been making a strong push towards a comeback in the phone market, with licensee HMD Global receiving $100 million in funding to "aggressively expand" its product lineup. 

Withings will continue to sell Nokia Health products, like the Body Cardio, the Steel HR and the Thermo, until the Withings brand is fully relaunched at the end of 2018. It will maintain its headquarters in Paris, along with teams in the US and Asia.

Nokia didn't immediately respond to a request for comment.