Philips has announced it is acquiring Germany-based TomTec Imaging Systems, primarily to increase its strength in cardiac ultrasound markets.
TomTec supplies image-analysis software for ultrasound and efficiency-boosting products and services for various medical applications. Its 100-plus employees are to join Philips’s Ultrasound Business Group, according to several financial outlets.
RTT News is reporting that the transaction is expected to be finalized Tuesday. The terms of the deal had not been disclosed as of press time.
“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,” Vitor Rocha, a Philips ultrasound executive, says in prepared remarks. “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.”