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Magstim Acquires Electrical Geodesics to Expand Product Portfolio of 1,200 Research Labs and Clinics
Tuesday 07 July 2020

US-based Magstim, a provider of Transcranial Magnetic Stimulation, has agreed to acquire the product portfolio of Electrical Geodesics, Inc. (EGI) from healthcare technology provider Royal Philips (NYSE: PHG; AEX: PHIA), the company said.

Magstim will acquire EGI hardware, software and sensor nets assets and will immediately manage global sales, service and support.

Terms of the transaction were not disclosed.

Magstim will continue a presence in EGI's Oregon office supported by Magstim's global offices in the UK, Netherlands and Minneapolis.

EGI designs non-invasive multimodal technologies to monitor brain activity and deliver transcranial electrical stimulation in brain research.

Magstim is backed by Telegraph Hill Partners, a San Francisco based private equity company. Magstim is also member of Medical Alley, the world's leading health technology innovation cluster and home to the nation's largest private health insurer and more than 1,000 healthcare companies, employing ms worldwide.

Magstim's sister brands include Neurosign and Technomed. MAGSTIM is the pioneer of Transcranial Magnetic Stimulation. TMS is a research tool and an effective, non-invasive, outpatient therapy that is cleared by the FDA for major depressive disorder.
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Date Published: 07/07/2020

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