The purchase will expand the company's existing diagnostic and therapeutic device portfolio, which already includes 2D/3D interventional imaging with intravascular ultrasound catheters, peripheral atherectomy devices, and peripheral therapy offerings such as its Stellarex drug-coated balloon for treating lesions and its Tack implantable dissection repair device, Philips said.

With Vesper Medical in the Philips fold, the firm will offer its customers Vesper's Duo Venous Stent system, which allows clinicians to customize treatment, restore venous flow, and relieve the symptoms of deep venous disease.

The deal is expected to close in the first quarter of 2022, at which time Vesper Medical will become part of Philips' image-guided therapy business.