Recent Acquisition by Philips

Greetings,

As Wall Street races towards the summer months, there appears to be no sign of the summer doldrums affecting the medtech marketplace.  During the first week of June, it was announced that Royal Philips (NYSE: PHG) had inked a deal to acquire image-guided cardiac arrhythmia treatment developer EPD Solutions for $293 million upfront with a possible additional $246.2 million upon completion of the deal based on certain milestones.

This acquisition is along the same vein as similar transactions where large medical device companies establish their foray into the diagnostic and imaging industry by paying a high premium to the market to obtain a relevant technology.

Recently there have been several major acquisitions by strategic medical device companies: Abbott (NYSE: ABT) bought Topera for $350 million, Medtronic (NYSE: MDT) bought CardioInsight for $272 million and AtriCure (NASDAQ: ATRC) bought nContact for $149 million. In February of this year, medical device company Stryker Corp. (NYSE: SYK) announced that it would acquire defibrillator maker Physio-Control International for $1.28 billion in cash. Last but certainly not least, Abbott announced a $25 billion definitive agreement with St. Jude Medical, Inc. to enter the atrial fibrillation, structural heart, heart failure and neuromodulation markets.

Why is this important? Consistent and continual acquisitions of pre-revenue, pre-FDA clearance EP technology companies that we continue to witness support the imbalance between demand for innovation and lack of supply in this highly complex medical sector. BioSig will strive for leadership in supplying quality innovations for the rapidly emerging bioelectronic medical applications. 

As ever, if you have any questions about our current progress and upcoming milestones, do not hesitate to get in touch at info@biosigtech.com.

Kind regards,

Ken Londoner


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