Philips Keeps The Pace With More Portfolio Shuffling
Philips continues its product-portfolio restructure with the acquisition of CardioProlific, a developer of catheter-based thrombectomy devices, and the divestiture of its Sonalleve MR-HIFU business to Profound Medical. The transactions were announced the same week Philips cut a $2bn deal for Spectranetics.
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It was a hot month for medtech M&A activity, with a total of 21 deals announced and closed in June. Dutch giant Philips continued its mission to grow its health-care business and inked three acquisitions, including a $2bn deal to buy vascular imaging business Spectranetics.
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.
As Europe’s health emergency body HERA approaches its first anniversary, an unprecedented range of stakeholders including industry bodies will be meeting in December to discuss HERA’s achievements, while a separate event will showcase the next generation of vaccines for COVID-19 and other infections.