Koninklijke Philips N.V. (ENXTAM:PHIA) entered into agreement to acquire Intact Vascular, Inc. from New Enterprise Associates, Inc. and others for approximately €300 million on August 26, 2020. Under the terms of agreement, Philips is making an upfront cash consideration of €234 million and deferred payments for which the Philips expects to recognize a provision of €72 million upon completion of the transaction. On completion of the transaction, Intact Vascular will become part of Philips’ Image-Guided Therapy business. After the deal closes, Bruce Shook will assume a full-time role as Chief Executive Officer of Intact Vesper and and 18 Intact Vascular employees will move over to Vesper. The remaining workers will continue their jobs with Intact Vascular at the Intact Vascular's current location in Wayne. The transaction is subject to regulatory approval and customary closing conditions. The transaction is expected to be completed in the third quarter of 2020. Johan (Hans) V. Brigham, Austin Ozawa, Grace Lee, Hector Armengod, Patrick English, Sarah Gagan, Elizabeth Richards, Heather Deixler and Betty Pang of Latham & Watkins LLP acted as a legal advisor to Intact Vascular, Inc. David Magstadt and Neil Oberoi of Guggenheim Securities, LLC acted as financial advisor to Intact Vascular, Inc. Dean Zioze and Matthew Tikonoff of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisor to Koninklijke Philips N.V. Koninklijke Philips N.V. (ENXTAM:PHIA) completed the acquisition of Intact Vascular, Inc. from New Enterprise Associates, Inc. and others for approximately €310 million on September 4, 2020. The consideration consists of €241 million to be paid in cash at closing and a contingent consideration of €70 million.