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Philips expands emergency healthcare offerings with acquisition of InnerCool Therapies

HealthTech Wire, July 21, 2009

Royal Philips has announced that it has reached an agreement to acquire the assets of InnerCool Therapies Inc. InnerCool, a wholly-owned subsidiary of Cardium Therapeutics, Inc., will be acquired in an asset purchase transaction for $11.25 million, as well as the transfer of approximately $1.5 million in trade payables.