Royal Philips, the parent company of Philips Healthcare, has signed an agreement to acquire German imaging software developer TomTec Imaging Systems.
The addition of Munich-based TomTec is intended to strengthen Philips' position in cardiac ultrasound and support the company's further expansion in other clinical areas such as obstetrics and gynecology, Philips said.
TomTec offers multimodality and vendor-neutral diagnostic and analysis applications in cardiology, radiology, and obstetrics and gynecology. Its software is used by more than 20,000 physicians and 600 health facilities worldwide, according to the company.
Philips expects to complete the transaction by the end of July 18. Financial details were not disclosed.
