Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today 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, a portfolio company of Gilde Healthcare, 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.
Complementing Philips’ strong intravascular ultrasound (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.
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.
Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips:
“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,” said Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips. “Leveraging our significant procedural expertise, we see strong clinical synergies between Vesper Medical’s innovative stenting solution and our existing peripheral vascular offering. This combined offering will help to better support clinicians to decide, guide, treat and confirm during the procedure, thereby enhancing patient care.”
“I am proud that Philips will become the home for our innovations and our people, joining forces to shape the future of treating deep venous disease,” said Bruce Shook, President and CEO of Vesper Medical. “I look forward to further advance our next generation venous technology and bring it to patients and clinicians globally, together with Philips.”
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.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm operates out of offices in Utrecht (The Netherlands), Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Venture&Growth invests in fast growing, innovative companies active in (bio)pharmaceuticals, healthtech and medtech that are based in Europe and North America. For more information, please visit: www.gildehealthcare.com.