Philips Acquires Spectranetics

On August 9, 2017, Royal Philips completed its acquisition of Spectranetics Corporation, a leading American medical technology company headquartered in Colorado Springs, Colorado. Announced on June 28, 2017, the transaction was valued at approximately €1.9 billion ($2.2 billion), marking a significant expansion of Philips' Image-Guided Therapy business. Spectranetics specialized in minimally invasive vascular intervention devices, including laser atherectomy catheters, drug-coated balloons, and technologies for removing implanted pacemaker and defibrillator leads. Employing more than 900 people, the company brought extensive expertise in treating coronary and peripheral artery disease. The acquisition strengthened Philips' portfolio of interventional medical devices and expanded its ability to provide advanced solutions for cardiovascular diagnosis and treatment. The acquisition of Spectranetics became an important milestone in Philips' transformation into a leading global healthcare technology company, particularly in minimally invasive cardiovascular treatment. By combining Spectranetics' specialized catheters, laser technologies, and vascular intervention devices with Philips' existing imaging systems and its earlier acquisition of Volcano Corporation in 2015, the company expanded its ability to support physicians throughout complex medical procedures. Spectranetics' technologies complemented Philips' interventional X-ray platforms, enabling clinicians to visualize blood vessels, assess vascular conditions, and perform targeted treatments using integrated equipment. The acquisition also strengthened Philips' position in the international image-guided therapy market and supported further innovation in coronary interventions, peripheral vascular treatments, and cardiac device management. This strategic investment reinforced Philips' long-term commitment to advanced medical technology, minimally invasive procedures, and improving patient care through integrated diagnostic and therapeutic solutions.