$537 million | Philips acquires a medical device company

On June 5, June 6, the Dutch healthcare technology company Koninklijke Philips NV stated that it will acquire a majority stake in EPD Solutions, a British medical device manufacturer, for US$539 million.

Philips will acquire EPD with a prepayment of 250 million euros cash and confirm payment of 2.1 euros after the transaction is completed. This transaction is subject to customary closing conditions and is expected to be completed in July 2018. Philips stated that the deal is in line with Expand plans for image-guided treatment combinations.

EPD Solutions (EPD), a company of Hobart Group companies, is committed to improving the efficacy and efficiency of minimally invasive catheter surgery for arrhythmia. It is an innovator of image-guided arrhythmia surgery.

EPD heart Imaging and navigation systems can help electrophysiologists navigate the heart by generating detailed three-dimensional images of the anatomy of the heart. They can also determine the position and orientation of catheters during the diagnosis and treatment of arrhythmia. This breakthrough technology has the potential to simplify the heart Navigation and treatment, immediate assessment of treatment results, and ultimately improve the efficiency of surgery.

Hobart Group companies was founded by Prof. Shlomo Ben-Haim, which accelerates the development of ideas, commercializes medical technology, and targets the top medical market.

Its growing company portfolio covers cardiology, diabetes, Cancer Research, neurology and other fields, employ more than 200 scientists, engineers, supervision and business experts.

Philips CEO Frans van Houten said: 'EPD's ground-breaking innovation provides detailed 3D anatomy of the heart during arrhythmia ablation, which is unique in the industry. This technology helps meet real-time treatment assessment needs.

This acquisition will enhance our ability to improve the lives of patients with arrhythmia, is in full compliance with our strategic plan, can expand our portfolio of treatment options, and bring long-term profit growth to Philips.

The acquisition will complement Philips's interventional imaging system, smart catheters and navigation software services. After the transaction is completed, EPD and its employees will become part of Philips' image-guided therapeutic services.

Prof. Shlomo Ben-Haim has extensive experience in building a successful medical device business. He will support Philips in building a new business on the basis of this acquisition.