Royal Philips has reached an agreement to buy TomTec, a producer of image analysis software based in Germany, for an undisclosed sum. The deal was announced July 18.
For the Dutch health tech conglomerate, the acquisition follows on the heels of its June deal to buy Spectranetics. These moves are both intended to boost Philips’ leading position in imaging markets, including cardiac ultrasound.
TomTec will integrate its medical software applications into third party systems to support clinical needs and routine workflow.
"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 of the 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."
Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.