Philips agrees to acquire SpectraWAVE Inc., advancing next-generation coronary intravascular imaging and physiological assessment with AI
Rhea-AI Summary
Royal Philips (NYSE: PHG) announced on December 15, 2025 an agreement to acquire SpectraWAVE, adding the HyperVue Imaging System (DeepOCT + NIRS) and X1-FFR (angiography-derived, AI-enabled FFR) to Philips’ coronary intravascular imaging and physiology portfolio.
The deal will integrate SpectraWAVE technologies with Philips’ Azurion platform and existing Eagle Eye Platinum IVUS and OmniWire iFR devices, expanding clinician options for intravascular imaging and physiology. Financial terms were not disclosed. SpectraWAVE is based in Bedford, Massachusetts, employs ~70 people, and its HyperVue and X1-FFR products hold US FDA Class 2 clearances.
Positive
- Adds HyperVue (DeepOCT+NIRS) intravascular imaging
- Adds X1-FFR angiography-derived, AI-enabled physiology
- Integration with Azurion to expand image-guided therapy suite
- SpectraWAVE devices hold US FDA Class 2 clearances
- Broader intravascular toolkit alongside Eagle Eye IVUS and OmniWire iFR
Negative
- Financial terms of the acquisition were not disclosed
News Market Reaction
On the day this news was published, PHG declined 0.60%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
PHG was down 1.44% pre-news, similar to declines in peers like DXCM (-2.99%), ZBH (-1.09%), and STE (-0.53%), while SNN was slightly positive (0.43%), suggesting mostly stock- and broader-market factors rather than a strong, unified sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 04 | 2026 outlook timing | Positive | -4.9% | Company reaffirmed date and highlighted expectations of improved 2026 performance. |
| Dec 01 | AI navigation launch | Positive | +0.6% | Expanded availability of LumiGuide AI 3D navigation for image-guided therapy. |
| Nov 24 | Diagnostic viewer launch | Positive | +0.4% | Introduced web-based diagnostic viewer within Image Management 15 SaaS platform. |
| Nov 19 | Neuroimaging AI partnership | Positive | -1.6% | Extended Cortechs.ai partnership to embed NeuroQuant into MR workflows. |
| Nov 17 | AI valve repair tool | Positive | -2.4% | Launched DeviceGuide AI device-tracking for mitral valve repair procedures. |
Recent AI and imaging launches have often seen muted or negative 1-day reactions despite constructive fundamentals, with more divergences than alignments between news tone and price moves.
Over the past month, Philips has reported several AI- and imaging-focused developments, including AI-enabled navigation (LumiGuide), a new web-based diagnostic viewer, and an extended neuroimaging AI partnership. It also reiterated timing for its 2026 outlook. Most of these updates were strategically positive but produced mixed 1-day price reactions, with three events showing negative moves (down to -4.92%) and two small positive reactions. Today’s acquisition of SpectraWAVE continues the AI-driven image-guided therapy expansion theme.
Market Pulse Summary
This announcement adds SpectraWAVE’s AI-supported coronary imaging and physiology technologies to Philips’ established Azurion-based image-guided therapy platform, reinforcing its focus on minimally invasive cardiac care. It fits a series of recent AI and imaging initiatives, including navigation, diagnostic viewers, and neuroimaging tools. Investors may watch for how these integrated offerings influence procedure volumes, clinical adoption and margins over time, as well as updates to the company’s 2026 outlook and overall imaging portfolio performance.
Key Terms
percutaneous coronary interventions medical
intravascular imaging medical
optical coherence tomography medical
near-infrared spectroscopy medical
fractional flow reserve medical
angiogram medical
ischemia medical
fda clearance regulatory
AI-generated analysis. Not financial advice.
December 15, 2025
- Acquisition of SpectraWAVE’s next-generation technologies including HyperVueTM Imaging System with Enhanced Vascular Imaging for comprehensive, rapid, and AI-supported imaging inside the coronary arteries, and X1TM-FFR, an AI-enabled angio-based FFR technology that delivers rapid, accurate coronary physiology assessment from a single angiogram [1]
- SpectraWAVE’s technologies have the potential to significantly increase adoption of coronary intravascular imaging and physiological assessment, especially when combined with Philips’ industry-leading Azurion image-guided therapy platform, supporting better outcomes [2] for more cardiac patients
- Acquisition will expand Philips’ existing intravascular imaging and physiological assessment device portfolio, featuring Eagle Eye Platinum digital IVUS and OmniWire iFR technology, to create a comprehensive offering in intravascular imaging and physiology solutions
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced it has entered into an agreement to acquire SpectraWAVE, Inc., an innovator in Enhanced Vascular Imaging (EVI) of coronary arteries, angiography-based physiology assessments, and the use of AI in medical imaging [3]. SpectraWAVE’s intravascular imaging and physiological assessment technologies provide advanced solutions for the treatment of patients with coronary artery disease, the most frequent type of heart disease, affecting more than 300 million people worldwide [4]. SpectraWAVE, based in Bedford, Massachusetts, was founded in 2017 and currently employs more than 70 people.
“Our global leadership in image guided therapy is driven by deep clinical collaboration combined with our latest technology insights across hardware, software and AI, to innovate interventional procedures for better and more patient impact. Our world-class portfolio integrates interventional systems and devices into one platform, Azurion, serving patients worldwide.
“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,” said Roy Jakobs, CEO of Royal Philips.
Percutaneous coronary interventions are minimally invasive procedures that leverage intravascular imaging and physiological assessment to treat coronary artery disease. A significant and growing body of evidence shows that the use of intravascular imaging and physiological assessment technologies significantly improves patient outcomes for percutaneous coronary interventions [5]. With its industry-leading Azurion image-guided therapy platform, integrated with its expanding portfolio of advanced diagnostic and treatment devices, Philips is driving the adoption of advanced healthcare technology to treat a growing and increasingly complex patient population.
“Philips shares our deep 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, expanding choice for clinicians and supporting more consistent, high-quality care for the millions of patients who depend on coronary intervention each year,” said Eman Namati, PhD, CEO of SpectraWAVE.
“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 [6][7]. The acquisition of SpectraWAVE’s next-generation technologies for coronary intravascular imaging and physiological assessment mark a significant step in expanding our portfolio with breakthrough, AI-powered technologies that help clinicians decide, guide, treat and confirm treatment in one setting,” said Bert van Meurs, Chief Business Leader Image Guided Therapy at Philips.
Expanding clinician choice and integrating AI across its coronary portfolio
SpectraWAVE’s HyperVue Imaging System is an intravascular imaging platform that combines DeepOCT (next generation comprehensive optical coherence tomography) and NIRS (near-infrared spectroscopy) into the Enhanced Vascular Imaging (EVI) novel imaging segment to provide detailed structural and compositional images of the coronary arteries during percutaneous coronary interventions, with rapid setup, acquisition, and automated AI image analysis. Combined with Philips’ Eagle Eye Platinum digital IVUS and IntraSight technologies, HyperVue will expand clinicians’ intravascular imaging toolbox – IVUS, DeepOCT, NIRS, and wire and angio-derived physiology – all orchestrated through integrated systems to tailor guidance to each patient and lesion.
SpectraWAVE’s X1-FFR is an angiography-derived, AI-enabled physiology solution that calculates Fractional Flow Reserve (FFR) from a single coronary angiogram, providing a non-invasive ischemia assessment and turning routine X-ray images into coronary physiology data for simplified percutaneous coronary intervention workflows. X1-FFR complements Philips OmniWire iFR technology by extending physiologic guidance to wire-free scenarios and equipping clinicians with a versatile toolkit to broaden the adoption of coronary physiology in daily practice.
Philips offers one of the most comprehensive image-guided therapy portfolios in the industry, providing solutions for visual guidance during minimally invasive procedures and image-guided therapy devices designed to enhance procedural efficiency and improve patient outcomes. At the heart of this portfolio is Azurion, Philips’ next-generation platform that brings advanced interventional tools together in a single, intuitive environment supporting a wide range of procedures across interventional cardiology, interventional radiology, neuroradiology and vascular surgery. Introduced in 2017, Philips Azurion is used to treat more than 7.6 million patients each year in over 80 countries.
Financial terms of the agreement are not disclosed.
[1] The SpectraWAVE HyperVue Imaging System and the Starlight Imaging Catheter is a US Class 2 device cleared by FDA through K221257 and K230691. The SpectraWAVE X1-FFR Software is a US Class 2 device cleared by FDA through K251355.
[2] Compared with angiography-guided Percutaneous Coronary Interventions.
[3] AI-derived algorithms are deployed on the device to support vessel segmentation and contouring. Analytical (non-AI) models are used for generating FFR values.
[4] Stark, B., Johnson, C., & Roth, G. A. (2024). Global prevalence of coronary artery disease: An update from the Global Burden of Disease Study. Journal of the American College of Cardiology, 83(13 Suppl), 2320. https://doi.org/10.1016/S0735-1097(24)04310-9
[5] Mandurino-Mirizzi, A., Munafò, A. R., Rizzo, F., De Francesco, R., Raone, L., Germinal, F., Montalto, C., Mussardo, M., Moci, M., Vergallo, R., Rocco, V., Fischetti, D., Dionigi, F., Godino, C., Colonna, G., Oreglia, J., Burzotta, F., Crimi, G., & Porto, I. (2025). Comparison of different guidance strategies to percutaneous coronary intervention: A network meta-analysis of randomized clinical trials. International Journal of Cardiology, 422, 132936. https://doi.org/10.1016/j.ijcard.2024.132936
[6] Stone, G. W., Christiansen, E. H., Ali, Z. A., Andreasen, L. N., Maehara, A., Ahmad, Y., Landmesser, U., & Holm, N. R. (2024). Intravascular imaging-guided coronary drug-eluting stent implantation: An updated network meta-analysis. The Lancet, 403(10429), 824–837. https://doi.org/10.1016/S0140-6736(23)02454-6
[7] Gaster, A. L., Slothuus Skjoldborg, U., Larsen, J., Korsholm, L., von Birgelen, C., Jensen, S., Thayssen, P., Pedersen, K. E., & Haghfelt, T. H. (2003). Continued improvement of clinical outcome and cost effectiveness following intravascular ultrasound guided PCI: Insights from a prospective, randomized study. Heart, 89(9), 1043–1049. https://doi.org/10.1136/heart.89.9.1043
For further information, please contact:
Michael Fuchs
Philips Global External Relations
Tel.: +31 614 869 261
E-mail: michael.fuchs@philips.com
Dorin Danu
Philips Investor Relations
Tel.: +31 205 977 055
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 2024 sales of EUR 18 billion and employs approximately 67,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
Forward-looking statements and other important information
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.
Attachments
- Clinician and patient with Azurion and IntraSight
- DeepOCT Enhanced Vascular Imaging
- Philips and SpectraWAVE logos
FAQ
What did Philips (PHG) announce on December 15, 2025 about SpectraWAVE?
How will SpectraWAVE products integrate with Philips Azurion for PHG shareholders?
Does SpectraWAVE have regulatory clearances for its devices relevant to PHG investors?
Will the SpectraWAVE acquisition change Philips’ coronary device lineup (PHG)?
What scale is SpectraWAVE compared with Philips (PHG)?
Were the financial terms of the PHG acquisition of SpectraWAVE disclosed?
