Philips Sells MR-HIFU Business to Profound Medical

(Ontario, Canada).

Sonalleve MR-HIFU is an innovative therapeutic platform that combines real-time Magnetic Resonance Imaging (MRI) and thermometry with high intensity focused ultrasound to enable precise and incision-free ablation of diseased tissue. With the completion of this acquisition, Profound has become the only company to provide a therapeutics platform that provides the precision of real-time MRI combined with the safety and ablation power of directional (inside-out) and focused (outside-in) ultrasound technology for the incision-free ablation of diseased tissue.

Philips will continue to distribute Profound’s TULSA-PRO system, which combines real-time MRI with transurethral, robotically driven therapeutic ultrasound and closed-loop thermal feedback control that is designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy from potential side effects.

“We are excited about our enhanced close collaboration with Profound, as we aim to accelerate the development of new clinical applications and address the evolving needs of our current and future customers,” said Rob Cascella, Chief Business Leader Diagnosis and Treatment at Philips.

“This transaction with Philips is truly transformative for Profound, and represents an opportunity for us to immediately transition from a development-stage to a growth-stage company,” said Dr. Arun Menawat, Profound’s CEO. “From a commercial perspective, our strengthened MR-Ultrasound ablation technology platform not only benefits Profound by significantly increasing the total opportunity size and creating synergies, but also benefits hospital customers by providing them with the ability to better utilize their MR system assets. In addition to the contribution the acquisition of the Sonalleve MR-HIFU business will make to our revenue base, we believe that it will also help accelerate our growth going forward.”