The acquisition will allow Philips to expand its diagnostic and therapeutic device portfolio with an advanced venous stent portfolio to treat deep venous disease
Vesper DUO venous stent system. (Credit: Koninklijke Philips N.V.)
Health technology company Royal Philips has agreed to acquire US-based medical technology company Vesper Medical for an undisclosed sum.
Based in Wayne of Pennsylvania, Vesper Medical is engaged in the development of minimally-invasive peripheral vascular devices.
The acquisition will allow Philips to expand its diagnostic and therapeutic device portfolio with an advanced venous stent portfolio to treat deep venous disease.
Philips’ peripheral vascular portfolio includes live 2D/3D interventional imaging combined with intravascular ultrasound (IVUS) catheters, peripheral atherectomy devices and peripheral therapy devices, which were added through the acquisition of Intact Vascular last year.
Vesper Medical’s venous stenting solution, which will complement Philips’ IVUS offering in venous imaging, will help address the root cause of chronic deep venous disease (DVD).
The Vesper DUO venous stent system includes venous stents that are designed for the treatment of deep venous obstruction.
Designed to address multiple anatomical challenges of the deep venous system, the system offers physicians with a modular portfolio to customise therapy, restore venous flow, and resolve the painful symptoms of deep venous disease for patients suffering from chronic venous insufficiency.
Philips image guided therapy devices general manager and senior vice president Chris Landon said: “The acquisition of Vesper Medical is another step in our objective to innovate patient treatment with more sophisticated technology and expand our growth in the vascular therapy space.
“Leveraging our significant procedural expertise, we see strong clinical synergies between Vesper Medical’s innovative stenting solution and our existing peripheral vascular offering.”
Subject to customary closing conditions, the deal is expected to be completed in the first quarter of next year.
Once the deal concludes, Vesper Medical and around 20 of its employees will be included in Philips’ image-guided therapy business.
In November this year, Royal Philips agreed to acquire French medical technology company Cardiologs.