The medical device company entered into a patent and technology license, sublicense and purchase agreement with the health division of Philips Electronics (PHG). Philips will have the right to market Hansen's fiber optic shape sensing and localization technology, which allows physicians to identify the shape and positions of catheters and other tools used in minimally invasive procedures.
Hansen will receive an upfront payment of $29 million and $78 million in future payments. Over 9 million shares were changing hands in afternoon trading.
>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: firstname.lastname@example.org.
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