DIVERSIFYING: Philips said the acquisition of Volcano Corp would lead to synergies in research and development and sales, and would add to Philips' earnings per share by 2017.
AMSTERDAM: Philips has agreed to acquire US-based medical device maker Volcano Corp for US$1.2bil (RM4.18bil) including debt, its largest healthcare acquisition in seven years and a bid to cash in on an aging population's need for more complex treatments.
Philips said the acquisition of Volcano — which makes equipment that allows doctors treating heart disease to see inside patients' veins and measure blood flow — would lead to synergies in research and development and in sales. The deal is expected to add to Philips' earnings per share by 2017.
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