Philips EPD Buyout To Expand Image-Guided Therapy Portfolio
Zacks Investment Research | Jun 05, 2018 10:30PM ET
Koninklijke Philips (NYSE:PHG) is set to buy EPD solutions for €250 million (£219.57 million). The Dutch healthcare technology provider will also pay €210 million upon the achievement of certain milestones. The deal is expected to be completed in July.
The acquisition expands Philips’ Image-Guided Therapy portfolio. EPD’s cardiac imaging and navigation system helps electrophysiologists navigate the heart by generating a detailed 3D image of the cardiac anatomy. The system also aids in pinpointing the location and orientation of catheters during the diagnostic and therapeutic procedures for cardiac arrhythmias.
The technology simplifies navigation and treatment along with helping in assessment of the treatment results on a real-time basis, consequently improving procedure efficiencies. EPD’s solution for image-guided procedures received CE marking in February, this year. The premarket notification (510(k)) for the system is currently under review by the US FDA.
Philips Dominates Image-Guided Therapy Market on Buyouts
Philips is a dominant name in the Image Guided Therapy market thanks to its acquisition of Volcano in 2015, which helped the company become a leader in advanced catheters for diagnosis and therapy.
The company launched its Image Guided Therapy platform, Azurion, in early 2017. The company further expanded its portfolio through the $2.05 billion buyout of Spectranetics in June 2017.
Koninklijke Philips N.V. Price and Consensus
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