Cortical Dynamics’ agreement with Philips bodes well for BPH
Diversified ASX-listed group, BPH Energy (ASX:BPH) announced on Friday morning that one of its investee companies (16%), Cortical Dynamics had entered into a non-exclusive Licence and Co-operation Agreement with Philips Healthcare North America Corp.
The agreement will enable Cortical to interface its Brain Anaesthesia Response Monitor (BARM) into the Philips IntelliVue and Patient Information Center (PIC iX) Monitoring Systems using the IntelliBridge integration product line.
Royal Philips (NYSE:PHG, AEX:PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care.
Cortical is an Australian based medical device technology company that has developed a next-generation Brain Function Monitor.
The core-product, the Brain Anaesthesia Response (BAR) monitor, has been developed with the objective of better detecting the effect of anaesthetic agents on brain activity, aiding anaesthetists in keeping patients optimally anaesthetised.
Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.
Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care.
Philips generated 2019 sales of EUR19.5 billion and employs approximately 81,000 employees across more than 100 countries.
Consequently, this is an important transaction for the group and perhaps an anticipated one given that BPH’s shares doubled yesterday after being up 200% earlier in the session.