Philips to buy US Spectranetics in 1.9 billion euros deal

• Jun 28, 2017

Philips , the Dutch medical equipment maker, said on Wednesday it will acquire U.S.-based Spectranetics Corp for 1.9 billion euros (US$2.16 billion), including debt, in a deal agreed with the company’s boards.

Philips , the Dutch medical equipment maker, said on Wednesday it will acquire U.S.-based Spectranetics Corp for 1.9 billion euros (US$2.16 billion), including debt, in a deal agreed with the company’s boards.

Spectranetics uses techniques including lasers and tiny drug-covered balloons to clean the insides of veins and arteries that have become clogged due to heart disease.

Separately, Philips announced a new 1.5 billion euro share buyback program that will begin in the third quarter and run for two years.

(Reporting by Toby Sterling; Editing by Muralikumar Anantharaman)

Source: http://www.channelnewsasia.com/news/business/philips-to-buy-us-spectranetics-in-1-9-billion-euros-deal-8984668