Philips Buys Israeli Cardiac Imaging Firm For $300m

Electronics giant Philips Electronics NV will buy EPD Solutions, an Israeli maker of cardiac imaging and navigation systems for treatment of heart rhythm disorders, as reported by The Times of Israel.

Philips will pay 250 million euros ($294 million) and milestone payments.

The goal of the deal is to further expand Philips’ image-guided therapy business and its portfolio of interventional imaging systems, reports The Times of Israel.

Based in Caesarea, EPD Solutions developed technology that allows image-guided procedures to treat cardiac arrhythmias and hearth disorders.

According to Philips, the technology developed by EPD Solutions can simplify navigation and treatment.

The Israeli company was founded by Prof. Shlomo Ben-Haim. As reported by The Times of Israel, Ben-Haim’s most known exit isthe sale of his company Biosense to Johnson & Johnson for $427 million in 1997.