Philips Buys US Intact Vascular Inc. for $275 Million
August 27 2020 - 2:44AM
Dow Jones News
By Sabela Ojea
Koninklijke Philips NV said Thursday that it has signed a
contract to acquire Intact Vascular, Inc for an upfront cash
consideration of $275 million with the aim of expanding its
image-guided therapy portfolio.
The Dutch health-technology company said the agreement also
includes deferred payments for which the company expects to
recognize a provision of $85 million upon completion of the
transaction, which is expected to be closed in the third quarter of
the year.
Intact Vascular is a U.S.-based developer of medical devices for
minimally-invasive peripheral vascural procedures, the company
said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
August 27, 2020 02:29 ET (06:29 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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