Philips Acquires Vesper Medical

December 14, 2021—Royal Philips announced that it has signed an agreement to acquire Vesper Medical Inc., a developer of minimally invasive peripheral vascular devices founded in 2016 and based in Wayne, Pennsylvania.

Philips stated that the acquisition complements its intravascular ultrasound (IVUS) products for venous imaging.

According to Philips, Vesper Medical’s Duo venous stent system is intended to treat the root cause of chronic deep venous disease. The device is designed to address the multiple anatomic challenges of the deep venous system with a modular portfolio to customize therapy, restore venous flow, and resolve the symptoms of deep venous disease for the broad range of patients with chronic venous insufficiency. The Duo venous stent system is an investigational device limited by United States law to investigational use, advised the company.

Upon completion of the transaction, Vesper Medical and approximately 20 of its employees will become part of Philips’ Image-Guided Therapy business. The transaction, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2022. Financial details of the transaction were not disclosed.

Philips’ peripheral vascular portfolio includes two-dimensional/three-dimensional interventional imaging combined with IVUS catheters; peripheral atherectomy devices; and peripheral therapy devices, including the Stellarex drug-coated balloon and the Tack implantable dissection repair device that restores blood flow in small limb vessels. The company added the Tack device to its portfolio with the acquisition of Intact Vascular in 2020.