Healthcare group Philips said on Tuesday it had signed an agreement to buy EPD Solutions, which focuses on image-guided procedures for cardiac arrhythmias (heart rhythm disorders).
Philips will pay €250m in cash for the company followed by deferred milestone-dependent payments in the future. The transaction is expected to be completed in July.
The acquisition will complement Philips’ portfolio of interventional imaging systems, smart catheters, planning and navigation software, and services, Amsterdam-based Philips said.
EPD will allow Philips to introduce new solutions in the €2bn+ market for image-guided treatment of cardiac arrhythmias, which is growing at a double-digit rate, the Dutch company said.
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