Phillips, a Dutch multinational company currently focused on healthcare sector has signed an agreement to acquire EPD solutions.
EPD Solutions Ltd. have invented a technology for cardiac arrhythmias which assist electrophysiologists to navigate the heart by generating a detailed 3D image of the cardiac anatomy. Here, the e-health technology pinpoints the location and orientation of catheters during the therapeutic and diagnostic procedures of the disorder. In other words, it is a maker of cardiac imaging and navigation systems used to treat patients with heart rhythm disorders.
Phillips has agreed to pay a total amount of $292.1 million in advance.
The company has also made a statement of including EPD and its employees as a part of the Image-Guided Therapy business after the transaction gets completed.
Frans van Houten, CEO of Royal Philips firmly believes that EPD’s innovation by providing detailed 3D anatomical information is very unique in the industry.
He further quotes in his statement saying, “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.”
Lately, Phillips has been focusing on the medical devices and the healthcare products by enabling a path to healthier living.
The takeover of EPD solutions is set to help the company expand its image-guided therapy business, thus improving the health of patients worldwide.
In the recent reports, Phillips image-guided therapy had shown a rapid increase in growth. Even in the diagnosis and treatment sector, it has gone up to 9% to 1.5 billion euros. As stated by Van Houten, Phillips is ready to acquire companies where it sees its core market.