M&A Analysis: Philips Inks Trio Of Deals As Activity Levels Heat Up
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.
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Philips is strengthening its hand in cardiac ultrasound with the addition of German ultrasound firm TomTec Imaging Systems, its seventh acquisition of the year. Financial terms of the deal were not disclosed.
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.
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.