Division of Royal Philips Electronics NV
Latest From Volcano Corp.
The digital revolution looks to be sweeping across different industries, which are now fully embracing technologies around connectivity, big data and artificial intelligence to drive innovation and better outcomes. Health care seems to have come late to this party, but changes are happening as medtech companies make a concerted effort to incorporate the advanced computing capabilities needed to turn devices into smart machines that are constantly learning and adapting. Surgery is one area that will benefit from these smart technologies and Scott Huennekens, CEO of Verb Surgical, tells Medtech Insight how the J&J/Verily joint venture aims to make this happen.
Device and diagnostics fundraising slumped in Q2, but there was a substantial uptick in M&A activity. Device financings totaled just slightly over half of the previous quarter, while acquisitions grew almost six-fold, thanks primarily to Becton Dickinson's $23.5 billion play for CR Bard. Financing in diagnostics slid to $1.03 billion, less than half of Q1, whereas the $1.7 billion in M&As (most of that from PerkinElmer's $1.3 billion buy of EuroImmun) was more than double Q1's aggregate.
The plum in the middle of Philips' intense period of M&A this summer was the €1.9 billion purchase of Spectranetics, which, combined with Philips Volcano, should create a $1 billion+ devices business within the image-guided therapy group by 2020. IGT senior vice president and general manager Bert van Meurs explains the rationale behind the deal, and what's next for Philips.
Philips, a giant of the medical systems and software industry, maintains its strategic direction with organic and external growth. That was illustrated in one recent four-month period in which the group made seven acquisitions, adding to its non-invasive diagnostics portfolio Electrical Geodesics and bolstering its steps in therapeutic medical devices with the acquisition of Spectranetics. But whatever the target, the same ground rules apply.
- Diagnostic Equipment & Supplies
Diagnostic Imaging Equipment & Supplies
Surgical Equipment & Devices
- Minimally or Less Invasive
- Therapeutic Areas
- Volcano Therapeutics Inc.
- Cardiotechnology, Inc.
- North America
- Parent & Subsidiaries
- Royal Philips Electronics NV
- Senior Management
Scott Huennekens, Pres. & CEO
John Onopchenko, EVP, Strategy, Bus. Dev. & Integration
- Contact Info
Phone: (800) 228-4728
3721 Valley Centre Dr. Ste. 500
San Diego, CA 92130
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