Royal Philips today announced that it has signed an agreement to acquire Vesper Medical, 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 company notes. 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.
A press release details that Vesper Medical will complement Philips’ current intravascular ultrasound (IVUS) offering in venous imaging by adding a venous stenting solution to address the root cause of chronic deep venous disease. The Vesper Duo venous stent system consists of venous stents intended to treat deep venous obstruction.
“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, USA. Upon completion of the transaction, Vesper Medical and approximately 20 of its employees will become part of Philips’ Image-Guided Therapy business.