Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, has signed an agreement to acquire TomTec Imaging Systems GmbH (TOMTEC), a leading provider of intelligent image analysis software, especially for diagnostic ultrasound. Headquartered in Munich, Germany, TOMTEC's products and services support clinicians to increase efficiency and diagnostic quality through automated and reproducible measurements. The acquisition will strengthen Philips' leadership position in cardiac ultrasound, and support the company’s further expansion in other clinical areas, such as obstetrics and gynecology (OB/GYN). Completion of the transaction is expected later today. Financial details were not disclosed.
Philips is a leader in ultrasound solutions with a large global installed base and strong track record of industry-first innovations in areas such as real-time 3D imaging of the heart, quantification tools driven by Anatomical Intelligence, and ultra-mobile, portable ultrasound solutions. Philips’ ultrasound portfolio supports the effective and efficient delivery of care across a broad range of clinical specialties including radiology, cardiology, point-of-care and OB/GYN.
TOMTEC's clinical applications, workflow solutions and R&D capabilities are a highly complementary addition to Philips’ strengths in ultrasound image quality, 3D-imaging and transducer technology. TOMTEC offers multi-modality and vendor-neutral diagnostic and analysis applications in cardiology, radiology and OB/GYN. Their software is used by more than 20,000 physicians and 600 health facilities worldwide to treat their patients daily.
"We are committed to providing ultrasound solutions that combine superb image quality with advanced analytics to drive efficiency and reproducibility, while reducing costs for our customers," said Vitor Rocha, Business Leader Ultrasound Business Group at Philips. "The acquisition of TOMTEC brings a strong team and new assets that are strategically valuable to Philips and will enable us to accelerate growth in our cardiac ultrasound and OB/GYN portfolios."
Founded in 1990, TOMTEC has a global presence with offices in the U.S., Europe and Asia. Upon completion of the transaction, the business and its over 100 employees will be part of the Philips' Ultrasound Business Group. In addition to the commercialization of Philips-branded products for clinical automation, workflow improvement and enhanced diagnostic quality, the TOMTEC business will continue its vendor-neutral product line and integrate these medical software applications into third party systems to support clinical needs and routine workflow.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2016 sales of EUR 17.4 billion and employs approximately 70,000 employees with sales and services in more than 100 countries.