Philips acquires noninvasive neurodiagnostics company for $36M

The healthcare technology company Philips will purchase Electrical Geodesics for about $36.7 million, reports the Portland Business Journal.

Electrical Geodesics produces noninvasive devices that use electroencephalogram technology to monitor brain activity and inform diagnoses of neurological disorders.

Philips seeks to expand its portfolio of imaging technology and software tools through the acquisition.

"By fusing these different tools together, we will create a more comprehensive map of the brain, and unlock new computational algorithms, which will help to shorten the path to a definitive diagnosis and guide some of the most complex therapeutic strategies," Joe Burnett, business leader of neurodiagnostics at Philips, said in a news release.

The deal is expected to close in the third quarter of this year.

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