Philips to further expand its image-guided therapy devices portfolio through acquisition of Vesper Medical

118

Royal Philips, a global leader in health technology, announced that it has signed an agreement to acquire Vesper Medical Inc., a US-based medical technology company that develops minimally-invasive peripheral vascular devices. Vesper Medical will further expand Philips’ portfolio of diagnostic and therapeutic devices with an advanced venous stent portfolio for the treatment of deep venous disease. The transaction, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2022. Financial details of the transaction were not disclosed. 

Philips already has a leading peripheral vascular portfolio, consisting of: live 2D/3D interventional imaging combined with intravascular ultrasound (IVUS) catheters to provide the visualization and guidance essential for the optimal diagnosis and treatment; peripheral atherectomy devices to remove blockages; and peripheral therapy devices, including the Stellarex drug-coated balloon to treat lesions, and the Tack implantable dissection repair device that restores blood flow in small limb vessels, which Philips added to its offering through the acquisition of Intact Vascular in 2020. With this portfolio, Philips provides clinicians with a complete procedural solution for the treatment of peripheral artery disease (PAD). 

Complementing Philips’ strong IVUS offering in venous imaging, Vesper Medical will add a venous stenting solution to address the root cause of chronic deep venous disease (DVD). The Vesper DUO Venous Stent System® consists of venous stents intended to treat deep venous obstruction. Uniquely engineered to address the multiple anatomical challenges of the deep venous system, it provides physicians with a modular portfolio to customize therapy, restore venous flow, and resolve the painful symptoms of deep venous disease for the broad range of patients suffering from chronic venous insufficiency.

Vesper Medical was founded in 2016 and is headquartered in Wayne, Pennsylvania, US. Upon completion of the transaction, Vesper Medical and approximately 20 of its employees will become part of Philips’ Image-Guided Therapy business.