Dive Brief:
- Philips has agreed to acquire SpectraWAVE, a firm making tools to help diagnose and guide treatment of coronary artery disease, the companies announced Monday. They did not disclose the terms of the deal.
- SpectraWAVE makes an intravascular imaging system for the coronary arteries. The Bedford, Massachusetts-based company also makes an AI-enabled solution that calculates fractional flow reserve from a single coronary angiogram to support treatment decisions.
- Philips expects the acquisition will expand its portfolio of intravascular imaging and physiological assessment devices. CEO Roy Jakobs said in a statement that the company is “doubling down on image-guided therapy” and expanding its coronary intervention portfolio with the planned purchase.
Dive Insight:
Coronary artery disease is one of the most common heart conditions, affecting more than 300 million people worldwide. The disease is caused by a narrowing or blockage of the coronary arteries due to plaque buildup.
One treatment option for coronary artery disease is percutaneous coronary intervention, a minimally invasive procedure to help blood flow better through the blocked artery. Philips and SpectraWAVE said that evidence shows the use of intravascular imaging and physiological assessment technologies significantly improves patient outcomes for this type of treatment.
Philips offers its Azurion image-guided therapy platform for interventional cardiology and other types of procedures. The company said that SpectraWAVE’s system, which combines two imaging modalities, will give physicians more tools. It also expects that SpectraWAVE’s AI solution for fractional flow reserve will complement Philips’ pressure guide wires.
SpectraWAVE was founded in 2017 and has more than 70 employees. The companies did not disclose when the deal is expected to close.
