Philips has agreed to purchase Electrical Geodesics, Inc. (EGI), a Eugene, Ore.-based company that develops technologies used to monitor and interpret brain activity, for EUR 32.9 million. Company officials say EGI’s portfolio of EEG hardware, software, and acquisition sensors will complement Philips’ portfolio of imaging technologies, such as MRI and PET/CT, as well as advanced informatics for neurological applications.
“This acquisition will enable Philips to provide an integrated neurology solution, comprising diagnostic imaging and clinical informatics, to assess brain anatomy and physiological processes, and EEG mapping tools from EGI to measure electrical brain activity,” says Joe Burnett, Philips’ business leader for neuro diagnostics.
“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,” Burnett adds.
Don Tucker, EGI’s founder and CEO, says the acquisition will also benefit EGI greatly. “Our team is very excited to join Philips and continue to drive advancements in neurological disorders including epilepsy, stroke, Parkinson’s disease and many more,” he says. “We will now complete the important work that we started 25 years ago, as part of a health technology leader that is known for its commitment to research and innovation.”
A key component of EGI’s products is the company’s proprietary dense-array EEG platform technology, which gathers brain activity data from many more electrodes than conventional EEG products. This generates higher quality and more precise levels of information, company officials say.