Philips Grows Image-Guided Intervention Focus With Spectranetics Buy
In its second acquisition this month and fourth this year, Philips is buying US device maker Spectranetics Corp. for about $2bn to add laser atherectomy catheters to its vascular imaging line-up.
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While its traditional competitors are active in devices or capital equipment, Philips has set itself apart with its committed investment in health informatics, says CEO Frans van Houten, who wants to position the group as a leader in integrated care models.
2017 proved to be a busy year for medtech M&A activity, with the number of deals rising from 174 in 2016, to 206 in 2017. The year also brought a number of notable acquisitions, including Becton Dickinson's blockbuster $24bn purchase of CR Bard and Dutch health-care giant Philips undertaking an ambitious acquisition spree. Medtech Insight takes a look at the highlights of 2017 and what's in store for 2018.
HeartFlow has signed another deal with one of the medical imaging giants to promote its HeartFlow FFRct Analysis technology for diagnosing coronary heart disease, this time with Dutch group Philips. The collaboration will further expand Philips' intravascular imaging offerings, a space in which it is focused on becoming a leader.