Mergers and Acquisitions

Date: 2017-07-18

Type of information: Company acquisition

Acquired company: TomTec Imaging Systems (Germany)

Acquiring company: Philips (The Netherlands)

Amount: undisclosed

Terms:

• • On July 18, 2017, Royal Philips announced it has signed an agreement to acquire TomTec Imaging Systems, a provider of intelligent image analysis software, especially for diagnostic ultrasound. 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. Financial details were not disclosed.

Details: Founded in 1990, Tomtec is headquartered in Munich and has a global presence with offices in the U.S., Europe and Asia. The company is a  provider of intelligent image analysis software, especially for diagnostic ultrasound. Tomtec products and services support clinicians to increase efficiency and diagnostic quality through automated and reproducible measurements. 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 obstetrics and gynecology. 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. The company offers multi-modality and vendor-neutral diagnostic and analysis applications in cardiology, radiology, obstetrics and gynecology. Their software is used by more than 20,000 physicians and 600 health facilities worldwide to treat their patients daily. 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.      

Related: Technology - Services

Is general: Yes