Royal Philips, the parent company of Philips Healthcare, has signed an agreement to purchase peripheral vascular procedure device developer Intact Vascular for $275 million.
Philips' said that the deal will expand its image-guided therapy portfolio through the combination of the company's interventional imaging devices and Intact Vascular's implantable device, Tack Endovascular System, for treating patients with peripheral artery disease.
The transaction is expected to close in the third quarter of this year, the company said.
