Philips Expands Coronary Imaging Portfolio with SpectraWAVE Acquisition

Philips, a global leader in health technology, has announced its agreement to acquire SpectraWAVE, a Massachusetts-based company specializing in advanced coronary artery disease diagnosis and treatment technologies. This strategic move is set to bolster Philips' image-guided therapy capabilities and expand its offerings in the coronary intervention segment.

AI-Powered Innovations in Cardiac Imaging

SpectraWAVE, founded in 2017, has developed cutting-edge solutions for intravascular imaging and physiological assessment of coronary arteries. The company's flagship products include the HyperVue catheter-based imaging system and the X1-FFR AI-powered angiogram software.

The HyperVue system combines optical coherence tomography and near-infrared spectroscopy to provide detailed visualizations of calcium and plaque buildup within arteries. This technology received FDA clearance in 2023, marking a significant advancement in intravascular imaging capabilities.

More recently, in late October, SpectraWAVE secured FDA clearance for its X1-FFR software. This innovative tool offers real-time readouts of coronary blood flow and uses artificial intelligence to highlight and track targeted vessels during X-ray procedures, aiding clinicians in precise stent placement and other interventions.

Integration with Philips' Existing Portfolio

Philips plans to integrate SpectraWAVE's technologies into its current suite of cardiac care solutions. The acquisition is expected to complement Philips' Eagle Eye Platinum and IntraSight platforms for intravascular ultrasound, as well as its Azurion image-guided intervention system used in catheterization laboratories.

Roy Jakobs, CEO of Philips, emphasized the company's commitment to image-guided therapy, stating, "We are doubling down on image-guided therapy and expanding our portfolio in the coronary intervention segment with the addition of SpectraWAVE's AI-powered innovations in high-definition intravascular imaging and angio-based physiological assessment, enabling us to deliver better care for more people."

Addressing a Global Health Challenge

The acquisition comes at a crucial time, as coronary artery disease affects more than 300 million people worldwide. This condition, characterized by narrowing or blockage of coronary arteries due to plaque buildup, remains one of the most common heart ailments globally.

Philips and SpectraWAVE both emphasize that evidence shows the use of intravascular imaging and physiological assessment technologies significantly improves patient outcomes for percutaneous coronary interventions, a minimally invasive procedure used to treat blocked arteries.

While the financial terms of the deal have not been disclosed, the acquisition of SpectraWAVE, which employs over 70 people, represents a significant investment in Philips' cardiac care capabilities. The move aligns with the company's broader strategy to enhance its position in the growing market for advanced medical imaging and intervention technologies.