Philips has signed an agreement to acquire Intact Vascular, a US-based developer of medical devices. The Dutch health tech company is paying 234 million euros in an upfront cash consideration and 72 million euros provision upon completion. With the agreement, Philips aims to enhance its image-guided therapy portfolio, combining its interventional imaging platform and diagnostic and therapeutic devices with Intact’s specialized implantable device to optimize the treatment of patients with peripheral artery disease (PAD). The transaction is expected to be completed in the third quarter of 2020.
PAD develops when plaque builds up in arteries and reduces blood flow to the limbs. It affects more than 200 million people worldwide. PAD symptoms include recurrent fatigue, leg pain and foot or leg wounds that heal slowly or not at all. The advanced stage of PAD, critical limb ischemia (CLI), is associated with high mortality and amputation rates.
Philips’s portfolio already includes intravascular ultrasound (IVUS) catheters to locate the disease and to guide and confirm treatment, peripheral atherectomy devices to remove blockages and peripheral therapy devices to treat lesions. Intact will add its Tack endovascular system, which reinforces standard and drug-coated balloon PAD treatment results. The implant is a minimal-metal dissection repair device that provides precision treatment of peripheral arterial dissections following balloon angioplasty. The Tack implant leaves less metal behind compared to stents, preserving future treatment options and ultimately preserving limbs.