Philips has launched its Duo Venous Stent System in the United States to treat patients with venous blockages.
Approved in December, the implant targets the underlying causes of chronic deep venous disease and is available in two forms for different vein types.
The company acquired the Duo Venous Stent System through its 2022 acquisition of Vesper Medical, for which it paid €227 million (AU$367.54 million) upfront to bolster its image-guided therapy business.
The system comprises self-expanding stents on disposable delivery devices, designed by Vesper to widen obstructed veins and restore blood flow, potentially alleviating symptoms such as pain, swelling and skin discoloration.
Philips observed quality-of-life improvements during a trial of the device, which contributed to its premarket approval from the Food and Drug Administration (FDA) in December.
An additional €44 million was paid to Vesper contingent upon this approval.
First use of device
This week marked the first use of the device outside of a clinical trial, signifying the product's commercial launch.
The Duo Venous Stent System is a key component of Philips' image-guided therapy unit, a division central to the company's growth strategy.
During the company's annual general meeting in May, CEO Roy Jakobs highlighted the focus on strengthening areas where Philips holds leading positions and can drive growth and expand margins more swiftly.
“We are concentrating our resources more on the areas where we have strongest positions and can accelerate growth and expand margins more quickly, such as image-guided therapy, monitoring, ultrasound and personal health,” Jakobs said.
Philips initially framed the Vesper acquisition as a strategic expansion of its image-guided therapy unit when it disclosed the deal in 2021.
This takeover came roughly 15 months after Philips acquired Intact Vascular, which provided the company with an implantable device for treating peripheral artery disease, further expanding its peripheral vascular portfolio through acquisitions.