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Philips to buy EPD Solutions for $292.1 million

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Staff Writer | June 5, 2018
Philips said it will buy EPD Solutions, a maker of cardiac imaging and navigation systems used to treat patients with heart rhythm disorders.
Acquisition   Philips will pay 250 million euros in cash
Philips will pay 250 million euros in cash ($292.1 million) upfront, followed by payments estimated to be worth around 210 million euros if milestones are met.

The takeover will give Philips a significant position in the rapidly growing market for cardiac arrhythmia ablation procedures within several years, Chief Executive Frans van Houten told reporters.

“It will take time to penetrate this market, already worth more than 2 billion euros, as most healthcare providers are conservative”, he said. “But EPD has a highly competitive, breakthrough technology, which can really address unmet needs.”

EPD’s system provides surgeons with “unique” detailed 3D anatomical information of the heart during ablation procedures, Van Houten said.