Philips to acquire EPD Solutions in $293m upfront deal

June 5, 2018 By Fink Densford Leave a Comment

Royal Philips (NYSE:PHG) said today it inked a deal to acquire image-guided cardiac arrhythmia treatment dev EPD Solutions for $293 million (EU €250 million) upfront with a possible additional $246.2 million (EU €210 million) upon completion of the deal based on certain milestones.

EPD Solutions produces cardiac imaging and navigation systems designed to aid electrophysiologists in navigating the heart through a detailed 3D image of the cardiac anatomy, Amsterdam-based Philips said. The system is also designed to identify the location and orientation of catheters during the diagnostic and therapeutic procedures for cardiac arrhythmias, the company added.

“EPD’s breakthrough innovation provides detailed 3D anatomical information of the heart during cardiac arrhythmia ablation procedures that is unique in the industry. The technology has the potential to address the key unmet need of real-time therapy assessment, which is one of the more significant limitations of the current standard of care. This acquisition will strengthen our ability to improve the lives of arrhythmia patients, and is entirely consistent with our strategic plan to broaden our image-guided therapy solutions portfolio and drive long-term profitable growth for Philips,” Philips CEO Frans van Houten said in a press release.

Philips said the acquisition will complement its existing portfolio of interventional imaging systems, smart caths, planning and navigation software. The acquisition is expected to close next month, after which EPD and its employees will become part of Philips image-guided therapy business.

“I am very pleased that Philips will become the home for our innovation, our business and our people. Philips’ expertise and leadership in interventional imaging and navigation is an excellent strategic fit with EPD. I am convinced that as part of Philips, we will be able to grow EPD and help many electrophysiologists and patients worldwide, as we aim to reduce procedure costs, simplify navigation and treatment, and ultimately improve procedure efficacy,” EPD Solutions founder & chair Shlomo Ben-Haim, who will stay on at Philips to help grow the business based on the acquisition, said in a prepared statement.

In May, Philips said it is joining with the American Heart Association and UPMC to launch a $30 million heart-focused collaborative venture capital fund.

Registration is Open for DeviceTalks Boston

Registration is open for DeviceTalks Boston! Join us on June 5-6, 2019, as we explore the trends and technology that are shaping the future of the medical device industry.

REGISTER NOW

Medical device cybersecurity: It’s time to get real
Medical device makers, regulators and healthcare delivery organizations are increasingly working together to strengthen cybersecurity. But are they doing enough? Almost no one in the medtech industry disputes the vulnerability posed by cyberattacks. How to go about boosting security is another matter – one on which those stakeholders have recently stepped up their collaboration. One… […]
Can a lifetime guarantee boost value-based care?
Swiss orthopedics company Medacta International and Geisinger Health System have said they will pilot a lifetime guarantee program for knee replacement surgeries. The program will cover full costs for screened Geisinger Health Plan members who receive knee replacement surgery while also ensuring reimbursement for any associated future care the patients may incur throughout their lifetimes.… […]
Compounding Solutions launches new tie-layer resin
Compounding Solutions (Lewiston, Maine) recently announced that it has launched a new tie-layer resin for the medical device industry. ReZilok Rx is meant for the manufacturing of multilayer co-extruded medical films and catheter tubing, the company said in a February announcement. Compounding Solutions’ R&D team developed ReZilok Rx as a linear low-density polyethylene grafted with… […]
GI Dynamics touts results of U.K. study
GI Dynamics (ASX:GID) said a retrospective study of its EndoBarrier device for patients with type 2 diabetes and obesity shows a significant reduction in HbA1c, weight, liver fat and cardiovascular disease (CVD) risks as well as a reduction in the need for insulin in some patients. The EndoBarrier device is a plastic gut sleeve designed… […]
Think Surgical, United Orthopedic join forces for global sales
Think Surgical and United Orthopedic have announced a global joint marketing agreement of Think’s Active robotic system and United’s U2 knee system. Think’s Active robotic system consists of a 3D pre-surgical planning workstation and its computer-assisted Active robot. Its use in total knee arthroplasty is the subject of an FDA investigational device exemption study, with… […]
FDA ramps up scrutiny of materials in medical devices
The FDA said today it has begun more closely scrutinizing the roles of certain materials associated with harm to patients who have breast implants, nitinol-containing devices, metal-on-metal hip implants and devices made from animal-derived substances. It’s the latest in a series of statements the agency has issued following increasingly harsh public criticism of its efforts… […]
AxioMed receives CE Mark approval for Cervical Freedom
AxioMed has received CE Mark approval for its viscoelastic disc replacement device. The Cervical Freedom’s total disc replacement is now eligible for commercialization in the European, Asian, Latin American and Australian markets and where it has already been TGA approved. AxioMed’s Freedom Cervical disc responds to loading and moves in three dimensions like the human… […]
10 orthopedic products from AAOS 2019 you need to know
The American Academy of Orthopaedic Surgeons (AAOS) annual meeting in Las Vegas is abuzz about robotics, according to industry analysts from SVB Leerink. While the SVB Leerink analysts termed Stryker’s (NYSE:SYK) Mako platform “best-in-class,” robotically assisted orthopedic surgery is an expanding category. Other major orthopedics companies are using this week’s AAOS meeting to introduce new… […]
Webinar: Here’s how you create better healthcare experiences through human-centered design
Wednesday, April 17, 2019 2 p.m. Eastern time / 11 a.m. Pacific time The greatest challenges in healthcare are at the human level. Diet, fitness, medication adherence and regular check-ups can all be influenced by our personal relationships. While today’s technology can impede these human-to-human interactions, following a human-centered approach gives organizations the power to… […]
Orthopaedic Implant Co. enters sports medicine market with new suture anchor
The Orthopaedic Implant Company (“OIC”) said it has launched a 5.5mm PEEK suture anchor system for orthopedic surgery. The OIC 5.5mm suture anchor accommodates up to three #2 sutures of any brand, resulting in an implant that offers flexibility, at a cost-effective price, according to the Reno, Nev.-based company. The anchors are made of biocompatible… […]
Oberd launches AI-assisted tech for gathering outcome data
Patient-reported outcomes vendor Oberd said it has launched software designed to reduce a patient’s time in completing outcomes surveys for orthopedic procedures. Patient-reported outcomes can help quantify the value of a healthcare provider’s services. Columbia, Mo.-based Oberd’s computer-adaptive test (CAT) software has been developed and validated for all of the outcomes surveys approved by the… […]