Spectranetics

Spectranetics — the American equipment manufacturer for treatment of diseases of heart and vessels. The company offers the medical devices used for elimination of arterial impassability in heart and legs and also for removal of electrodes of a pacemaker and a defibrillator.

2017: Philips buys Spectranetics for 1.9 billion euros

On June 28, 2017 the Dutch company Philips announced acquisition of Spectranetics for 1.9 billion euros (2.16 billion dollars). Thanks to this transaction the buyer will be able to expand business on release of medical devices with visual control.

Under the terms of the agreement, Philips will pay $38.5 for each stock Spectranetics that is 27% higher than quotations to closing of biddings on June 27, 2017. The announcement of the transaction led to decline of cost of securities of Philips by 1.35% right after the declaration. According to analysts of Berenburg, this transaction is a good strategic step, however it will not increase an investment payback of Philips within five years.

Philips buys equipment manufacturer for treatment of heart of Spectranetics for 1.9 billion euros

In our opinion, it is the good company rich with technologies which adds the scale and width to a product portfolio of Philips in the field of a mechanical aterektomiya and intra vascular ultrasonographies, but, it is obvious that the payment for the company is too high, said in an analytical note.

According to the head of Philips Frans van Houten, his company after acquisition of Spectranetics will have "quite good range of devices for warm, coronary, peripheral and vascular therapy". The transaction strengthens positions of Philips in the market of the equipment for treatment of cardiovascular diseases after purchase of Volcano company at the beginning of 2015, marked out Van Houten.^[1] is expected in the third quarter 2017.

Upon completion of the transaction of 900 employees of Spectranetics company will become a part of division of medical visualization of Philips. It is expected that by 2020 the volume of business of the joint division of Philips Volcano and Spectranetics will reach 1 billion euros (1.14 billion dollars).

At this time Philips takes the leading positions in the market of medical visualization for low-invasive interventions which volume, according to the experts, exceeds 6 billion euros. Moreover, the company has an extensive portfolio of the innovative solutions for researches of heart and vessels and also network of clinical consultants, clients and partners worldwide. Spectranetics is the leader in the field of the equipment for coronary and peripheral vascular interventions. The company also proposes solutions for minimum invasive removal of electrodes of the implanted kardioverter-defibrillators and pacemakers. Growth rates of Spectranetics are expressed by two-digit numbers, and sales in 2017, by different estimates, will be from 293 to 306 million dollars.

"The combination of innovations of Philips in the field of medical visualization with solutions and experience of Spectranetics in the field of development of the equipment for treatment of heart troubles and vessels opens before us new opportunities and potential for growth. Having become a part of Philips, we will be able to expand an exploration portfolio considerably. We yours faithfully treat the company and are convinced that our values, culture and approach to innovations match. We separate the aspiration of Philips to improve lives of people around the world and also we expect that process of consolidation will be the most comfortable", – Scott Drake, the president and the CEO of Spectranetics company noted.

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