Philips agrees to acquire SpectraWAVE Inc., advancing next-generation coronary intravascular imaging and physiological assessment with AI
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced it has entered into an agreement to acquire SpectraWAVE, Inc., an innovator in Enhanced Vascular Imaging (EVI) of coronary arteries, angiography-based physiology assessments, and the use of AI in medical imaging [3]. SpectraWAVE’s intravascular imaging and physiological assessment technologies provide advanced solutions for the treatment of patients with coronary artery disease, the most frequent type of heart disease, affecting more than 300 million people worldwide [4]. SpectraWAVE, based in Bedford, Massachusetts, was founded in 2017 and currently employs more than 70 people.
“Our global leadership in image guided therapy is driven by deep clinical collaboration combined with our latest technology insights across hardware, software and AI, to innovate interventional procedures for better and more patient impact. Our world-class portfolio integrates interventional systems and devices into one platform, Azurion, serving patients worldwide.
“We are doubling down on image-guided therapy and expanding our portfolio in the coronary intervention segment with the addition of SpectraWAVE’s AI-powered innovations in high-definition intravascular imaging and angio-based physiological assessment, enabling us to deliver better care for more people,” said Roy Jakobs, CEO of Royal Philips.
Percutaneous coronary interventions are minimally invasive procedures that leverage intravascular imaging and physiological assessment to treat coronary artery disease. A significant and growing body of evidence shows that the use of intravascular imaging and physiological assessment technologies significantly improves patient outcomes for percutaneous coronary interventions [5]. With its industry-leading Azurion image-guided therapy platform, integrated with its expanding portfolio of advanced diagnostic and treatment devices, Philips is driving the adoption of advanced healthcare technology to treat a growing and increasingly complex patient population.