Philips announced the acquisition of SpectraWAVE, a U.S. developer of the HyperVue intravascular imaging platform and the X1‑FFR AI‑enabled fractional flow reserve software, on December 15 2025. The deal adds next‑generation optical coherence tomography and near‑infrared spectroscopy capabilities to Philips’ Azurion image‑guided therapy platform, creating a single, AI‑driven workflow that can guide device selection, assess lesion severity, and confirm procedural success during percutaneous coronary interventions.
The acquisition is a strategic fit that expands Philips’ existing intravascular imaging and physiology portfolio, which already includes Eagle Eye Platinum digital IVUS and OmniWire iFR. By integrating SpectraWAVE’s HyperVue and X1‑FFR, Philips will offer clinicians a more versatile toolkit that combines high‑definition imaging with real‑time physiological assessment. The move also supports Philips’ broader goal of embedding AI across its product lines, a priority highlighted by a $150 million investment in AI‑based ultrasound systems announced earlier in 2025.
Philips’ Diagnosis & Treatment segment, which has been pressured by tariff costs and a weak China market, posted comparable sales growth of 1.3% and an Adjusted EBITA margin of 11.8% in Q3 2025—down 80 basis points from the prior year. The segment’s full‑year 2024 results showed 1% comparable sales growth and a 11.6% margin. Management expects the SpectraWAVE acquisition to broaden the segment’s revenue mix and help offset margin compression by adding high‑margin AI‑enabled products that can command premium pricing and improve operational leverage.
"With today’s announcement we continue to expand the role of minimally invasive image‑guided therapy procedures, which are associated with better patient outcomes and improved cost‑effectiveness," said Bert van Meurs, Chief Business Leader Image‑Guided Therapy at Philips. Eman Namati, CEO of SpectraWAVE, added, "Philips shares our conviction that the convergence of intravascular imaging, coronary physiology and AI can fundamentally improve how every patient with coronary disease is treated. This partnership allows us to integrate and scale HyperVue and X1‑FFR into the world’s leading image‑guided therapy ecosystem." Roy Jakobs, CEO of Philips, noted, "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."
The acquisition aligns with industry momentum toward AI‑enabled imaging. SpectraWAVE’s HyperVue and X1‑FFR have received U.S. FDA Class 2 clearances, and the company raised $50 million in 2024 with investors including Johnson & Johnson. Philips’ Azurion platform is already deployed in more than 80 countries and serves over 7.6 million patients annually, positioning the combined offering to capture a larger share of the competitive coronary intervention market. The deal is expected to accelerate the adoption of AI in hospitals worldwide and strengthen Philips’ competitive stance against rivals such as Medtronic and Boston Scientific.
Financial terms of the transaction were not disclosed. The acquisition is expected to close in the coming months, subject to customary regulatory approvals and shareholder consent. Philips will integrate SpectraWAVE’s technologies into its existing product roadmap, with a projected timeline that aligns with its 2025 AI investment strategy and the ongoing expansion of its image‑guided therapy portfolio.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.