August 12, 2019 / 1:13 PM / a year ago

Philips has no plans to acquire Healthineers' target Corindus

AMSTERDAM, Aug 12 (Reuters) - Dutch health technology company Philips said on Monday it has no plans for an offer to counter German rival Siemens Healthineers’ bid for Corindus Vascular Robotics.

“We did not and do not have plans to acquire Corindus,” Philips said in a statement.

Healthineers said last week that it had reached an agreement to buy Corindus, which develops robotic systems for minimally invasive vascular therapy procedures, for $1.1 billion.

Philips is the second-largest shareholder in Corindus with a 12.8% stake, according to Refinitiv data. (Reporting by Bart Meijer; Editing by Susan Fenton)

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