The healthcare technology company Philips will purchase St. Paul, Minn.-based RespirTech for an undisclosed amount, reports StarTrbune.
Here are four things to know.
- 1.RespirTech develops electronic-pulsating vests for patients with respiratory diseases such as chronic obstructive respiratory disease and cystic fibrosis. The vests, which cost $12,000 to $15,000, help patients clear their lungs by regularly inflating and deflating to improve circulation.
- James Ehlen, MD, RespirTech's CEO, expects Amsterdam-based Philips to significantly scale out the business, which is on track to earn $50 million in revenue this year.
- RespirTech employs 200 people, and Dr. Ehlen said a few administrative positions may be cut following the deal.
- The deal is expected to close within several months.
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