Philips Acquires Intact Medical
Ticker: RYLPF · Form: 6-K · Filed: Sep 3, 2024 · CIK: 313216
Sentiment: neutral
Topics: acquisition, medical-technology, gastroenterology
TL;DR
Philips just bought Intact Medical to boost its endoscopy tech. Details light, but good for their imaging biz.
AI Summary
Royal Philips announced on September 3, 2024, that it has completed the acquisition of Intact Medical, a company specializing in endoscopic visualization solutions. This acquisition is expected to enhance Philips' diagnostic and interventional imaging portfolio, particularly in gastroenterology. The financial terms of the transaction were not disclosed.
Why It Matters
This acquisition strengthens Philips' position in the medical technology market, potentially leading to improved diagnostic tools for gastroenterology and impacting competitors in this space.
Risk Assessment
Risk Level: low — The filing is an informational report on an acquisition with no immediate financial implications or significant operational changes disclosed.
Key Players & Entities
- Royal Philips (company) — Acquiring company
- Intact Medical (company) — Acquired company
- September 3, 2024 (date) — Announcement date
FAQ
What is the primary business of Intact Medical?
Intact Medical specializes in endoscopic visualization solutions.
What is the expected impact of this acquisition on Royal Philips?
The acquisition is expected to enhance Philips' diagnostic and interventional imaging portfolio, particularly in gastroenterology.
When was this acquisition announced?
The acquisition was announced on September 3, 2024.
Are the financial terms of the Intact Medical acquisition disclosed?
No, the financial terms of the transaction were not disclosed in the filing.
What type of filing is this for Royal Philips?
This is a Form 6-K filing, which is a report of a foreign issuer.
Filing Stats: 540 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-09-03 07:35:51
Filing Documents
- phg-20240902.htm (6-K) — 10KB
- visual0001.jpg (GRAPHIC) — 93KB
- visual0002.jpg (GRAPHIC) — 77KB
- 0000313216-24-000017.txt ( ) — 230KB
From the Filing
Philips - 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 September 3, 2024 KONINKLIJKE PHILIPS N.V. (Exact name of registrant as specified in its charter) Royal Philips (Translation of registrant’s name into English) The Netherlands (Jurisdiction of incorporation or organization) Breitner Center, Amstelplein 2, 1096 BC Amsterdam, The Netherlands (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): ☐ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ☐ No ☒ Name and address of person authorized to receive notices and communications from the Securities and Exchange Commission: M.J. van Ginneken Koninklijke Philips N.V. Amstelplein 2 1096 BC Amsterdam – The Netherlands This report comprises a copy of the following press release: “ Periodic update on transaction details related to Philips’ share repurchases ", dated September 2, 2024 . Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf, by the undersigned, thereunto duly authorized at Amsterdam, on September 3, 2024. KONINKLIJKE PHILIPS N.V. /s/ M.J. van Ginneken (Chief Legal Officer) Press information September 2, 2024 Periodic update on transaction details related to Philips’ share repurchases Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today reported that on August 30, 2024 a total of 68,408 of its own common shares were repurchased, with a weighted average purchase price of EUR 27.37. These repurchases were made under the repurchase program to cover certain of the company’s obligations arising from its long-term incentive plans, which was announced on August 5, 2024. For the remainder of the program Philips had already entered into a forward transaction with a settlement date in November 2026. Further details can be found via this link. For further information, please contact: Elco van Groningen Philips External Relations Tel.: +31 6 8103 9584 E-mail: elco.van.groningen@philips.com Dorin Danu Philips Investor Relations Tel.: +31 20 59 77055 E-mail: dorin.danu@philips.com About Royal Philips Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring, and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 68,700 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.