Philips is buying the Israeli startup EPD for 470 million euros

Dutch health giant Philips buys the company from Caesarea founded by entrepreneur Shlomo Ben Haim, who also serves as chairman.

According to the deal, Philips will pay 250 million euros in cash and another 210 million euros if the Israeli company meets its milestones. The Israeli company develops cardiac imaging systems and serves as a navigation system for patients with heart failure disorders.

The company's product has not yet received FDA approval and the company is currently in the process of certification, but has recently received the European CE.

Prof. Shlomo Ben Haim is one of the leading entrepreneurs in the Israeli life science industry, with a series of successes including the sale of Biosense to Johnson & Johnson in 1997 for about $ 450 million. According to the report, he recorded a profit of $ 88 million from the deal. Other exits that Ben has been living in since then included the sale of a right to acquire Impulse Dynamics for Gaydant, from which he recorded a profit of over $ 100 million. In 2006 Ben-Haim sold Diskotech for $ 220 million, in 2011 it was involved in the sale of Radiancy for $ 175 million, and more.

The acquisition will enable Philips to gain a foothold in the developing heart arrhythmia market. "It will take us time to enter this market, which is already worth 2 billion euros today," said Francois van Houten, chief executive of the company. The solution we have acquired is very competitive and groundbreaking and provides a solution to a difficult problem that has no solution today. The EPD system gives a unique, unique three-dimensional image of the heart during the process, "said Van Houten