Philips Buying Volcano To Boost Image-Guided Therapy
Diversified Dutch giant Royal Philips (PHG) agreed to acquire San-Diego-based medical imaging company Volcano for $1.2 billion in cash Wednesday, sending the latter’s stock up 55% in morning trading in the stock market today, near 18. Philips said Volcano’s (VOLC) catheter-based imaging technology, used in heart surgery, will add to the portfolio of image-guided surgery products it’s been building over the past few years. “Volcano’s impressive and