Philips to buy US Spectranetics in 1.9 billion euros deal

Dutch medical equipment maker, Philips, will acquire U.S.-based Spectranetics Corp for 1.9 billion euros ($2.16 billion), including debt, in a deal agreed with the company's boards, it stated on Wednesday, June 28 .

Spectranetics uses techniques including lasers and tiny drug-covered balloons to clean the insides of veins and arteries that have become clogged due to heart disease.

Separately, Philips announced a new 1.5 billion euro share buyback program that will begin in the third quarter and run for two years.