Acquisition expands and strengthens Philips’ Image-Guided Therapy business group.
Amsterdam, the Netherlands and Colorado Springs, CO, U.S. – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has completed the acquisition of The Spectranetics Corporation (NASDAQ: SPNC), a U.S.-based global leader in vascular intervention and lead management solutions. Spectranetics’ financial results will be consolidated as part of Philips’ Image-Guided Therapy business group as of August 9, 2017. Spectranetics is currently growing double-digits and projects 2017 sales to be approximately USD 300 million. The company employs over 900 employees. The acquisition is expected to be revenue growth, adjusted EBITA [1] margin and adjusted EPS [2] accretive for Philips by 2018.
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