After taking a two and a half year break since its last acquisition, Philips acquired SpectraWAVE for its HyperVue and X1-FFR technologies in a bid to extend its intravascular imaging lead.
- SpectraWAVE focuses on vascular imaging that combines DeepOCT (optical coherence tomography) and NIRS (near-infrared spectroscopy) with AI and angio-based FFR.
- These technologies are designed to improve percutaneous coronary intervention, with X1-FFR and HyperVue now coming to Philips’ Azurion platform.
- Although financials haven’t been disclosed, SpectraWAVE has raised at least $79M across its venture, Series A, and Series B rounds.
At the center of this acquisition, Philips’ Azurion is an image-guided therapy platform that already serves 7.6M patients annually. It combines coronary imaging and physiology with Philips’ Eagle Eye Platinum IVUS and OmniWire iFR offerings, but the addition of SpectraWAVE’s tech takes it to the next level…
- With SpectraWAVE’s HyperVue, Philips will now have a single enhanced vascular imaging platform that provides detailed coronary artery visualization.
- On the other hand, X1-FFR calculates fractional flow reserve from angiograms, allowing Philips to turn X-ray images into physiology data without wire-based measurements.
These technologies add to Philips’ impressive intravascular imaging toolbox which now boasts IVUS, DeepOCT, NIRS, wire and angio-derived physiology all accessible to imagers on the Azurion platform.
While it might have been a minute since Philips’ last big buy, bringing in SpectraWAVE is part of a decade long mission to built-out its cardiology offerings with acquisitions like –
- Volcano (2015, IVUS and FFR)
- TomTec (2017, echo PACS)
- BioTelemetry (2020, remote cardiac diagnostics & monitoring)
- Intact Vascular (2020, peripheral vascular devices)
- Vesper Medical (2021, peripheral vascular devices)
- Cardiologs (2021, ECG AI)
- And DiA Imaging Analysis (2023, echocardiography AI)
All of these individual technologies were effective, that’s why Philips bought them, but this trend is bigger than just buying the best parts for a custom car, it represents a maturation of Philips’ position across several subspecialties of cardiology.
- With all of these technologies on one platform, physicians who use Azurion will now have a single decision loop in their vascular imaging workflow.
- Meanwhile, the AI integration side of Azurion puts all of the data in one place, reducing the strain on physicians managing several softwares across modalities to get a diagnosis.
The Takeaway
Philips’ acquisition of SpectraWAVE is about more than being better than the competition. It represents a focus on being the best for Azurion’s users and it isn’t a surprise when you look back at how Philips built the platform.
