THE HAGUE: Dutch electronics giant Philips announced yesterday it was buying US-based medical imaging company Volcano for $1.2bn, as it sought to strengthen its hold on the high-margin healthcare technology market.
“Philips is to acquire Volcano for $18 per share (with) a total transaction value of $1.2bn,” Philips said in a statement.
The agreement to buy the San Diego-based Volcano, which makes catheter-based imaging and advanced blood flow measuring equipment, “advances Philips’ focused strategy in image guided therapy,” it said. Philips added: “There is an increasing trend to use advanced catheters that are capable of producing ultrasound images of the interior of blood vessels or perform blood flow
measurements.” AFP
