Royal Philips has inked a deal to acquire Intact Vascular, Inc., a U.S.-based developer of medical devices for minimally invasive peripheral vascular procedures, for $275 million. Company officials say the acquisition will enhance Philips’ image-guided therapy portfolio, combining Philips’ interventional imaging platform and diagnostic and therapeutic devices with Intact Vascular’s specialized implantable device to optimize the treatment of patients with peripheral artery disease (PAD).
“Acquiring Intact Vascular will expand our portfolio of minimally invasive therapy options for peripheral artery disease with the Tack Endovascular System, a much-needed implant that effectively restores blood flow in small limb vessels, promotes healing and preserves limbs,” said Chris Landon, senior vice president and general manager of image-guided therapy devices at Philips. “Through the integration of our interventional imaging systems and diagnostic and therapeutic devices, we will be able to provide clinicians with a complete procedural solution to optimize the treatment of patients with this disease.”
Philips’ peripheral vascular portfolio already includes advanced interventional imaging systems for precision guidance; intravascular ultrasound (IVUS) catheters to assess the location of the disease and lesion morphology and guide and confirm the treatment; peripheral atherectomy devices to remove blockages; and peripheral therapy devices, such as Philips’ Stellarex drug-coated balloon, to treat lesions.
Intact Vascular will strengthen this portfolio with the Tack Endovascular System, which reinforces standard and drug-coated balloon PAD treatment results. Intact Vascular’s Tack implant is a minimal-metal, dissection repair device that provides precision treatment of peripheral arterial dissections following balloon angioplasty in above-the-knee and below-the-knee therapeutic interventions.
“We are excited about the strategic fit between our team, expertise, and unique therapeutic device, and Philips’ Image-Guided Therapy business,” says Bruce Shook, president and CEO of Intact Vascular. “We share the same vision of complete procedural solutions to improve existing procedures and expand treatment options. We look forward to completing the transaction and working closely with Philips on a seamless transition.”
The transaction, which is subject to customary closing conditions, is slated for completion in the third quarter of 2020.