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Philips to Complete Volcano Acquisition 1st Quarter 2015

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Royal Philips and Volcano Corporation, a global leader in catheter-based imaging and measurement solutions for cardiovascular applications, have announced that they entered into a definitive merger agreement.

Pursuant to the agreement, Philips will commence a tender offer to acquire all of the issued and outstanding shares of Volcano for USD 18.00 per share, or a total equity purchase price of USD 1 billion (approx. EUR 800 million), to be paid in cash upon completion.

The board of directors of Volcano has unanimously approved the transaction and recommends the offer to its shareholders.

The transaction is expected to close in the first quarter of 2015.

In the last few years, Philips has created a leading image-guided therapy business through strategic investments in R&D, partnerships and technology licenses.

Today, Philips has a rich portfolio of interventional imaging equipment, navigation tools, and services, and a sizeable global customer base, including each of the top 50 U.S. Heart Surgery and Cardiology hospitals.

One in every three interventional X-ray systems sold globally is a Philips system.

These systems provide the visual maps that allow the clinician to guide thin, tube-shaped instruments called catheters through the body, to the area of interest and perform the minimally invasive treatment.

In image-guided treatments of the heart and blood vessels, there is an increasing trend to use advanced catheters that are capable of producing ultrasound images of the interior of blood vessels (intravascular ultrasound or IVUS) or perform blood flow measurements (fractional flow reserve or FFR).

There is a growing body of clinical evidence that the use of such technologies in conjunction with interventional X-ray helps improve procedural outcomes.

With 2013 sales of approximately USD 400 million, San Diego, California-based Volcano is a leader in catheter–based imaging and measurements for minimally invasive diagnostics and treatment of coronary artery disease and peripheral vascular disease.

Volcano is the only company in the industry with a leading position in both IVUS imaging and FFR measurements.

In addition, the company possesses the broadest product portfolio around these two technologies, a leading IP position and a nascent peripheral vascular therapeutics business that targets a segment with a double-digit growth rate.

The combination of two industry leaders will create new sources of recurring revenue streams and increase sales growth for Philips in the EUR 4 billion image-guided therapy market opportunity.

Sales growth will be accelerated through Volcano’s close customer relationships associated with its disposable products and channel synergies that will create cross-selling opportunities between both companies’ existing customer bases.

Also, the combination of Volcano’s proven clinical development and commercialization capabilities with Philips’ next generation of imaging and measurement technologies, will allow Philips to introduce new solutions in higher growth segments such as the minimally invasive treatment of heart rhythm disorders and structural heart diseases.

These are promising segments growing at double-digit rates.

“The agreement to acquire Volcano significantly advances our strategy to become the leading systems integrator in image-guided therapies,” said Frans van Houten, Chief Executive Officer of Royal Philips.

”Volcano’s impressive and unique product portfolio is highly complementary to our strong offering in live image-guidance solutions, creating an opportunity to accelerate the revenue growth for our image-guided therapy business to a high single-digit rate by 2017.

“Our combined sales forces will be able to capture immediate cross selling opportunities, while our joint R&D teams will be able to develop new solutions to address significant unmet needs in the minimally invasive treatment of cardiovascular diseases,” Van Houten said.

Van Houten added: “Image-guided therapies provide significant benefits for healthcare systems and patients, including reduced patient trauma, shorter recovery times and hospital stays, and lower costs. As a result, our clinical partners and customers are asking for a tighter integration of imaging and measurement technologies to enable such therapies. This transaction allows us to provide our customers with an integrated solution to improve procedural outcomes at a decisive stage in the health continuum.”

“I am very excited that Volcano will become part of Philips and join forces with its leading image guided therapy business,” said Scott Huennekens, Volcano President and Chief Executive Officer. “

“This transaction will be beneficial for our shareholders, customers, partners and employees. There is a large and growing global market opportunity for image-guided therapies, and as part of Philips, we gain the scale and resources needed to accelerate our goals of improving patient outcomes on a global basis, lowering cost and delivering innovative diagnostics and therapies in the coronary and peripheral markets.

“In addition, our shared expertise in the image-guided therapy market will allow us to further globalize our leading IVUS and FFR product offerings and enter new product areas. We look forward to working closely with Philips and ensuring a smooth transition and closing,” Scott.

Upon completion of the transaction, the Volcano business and its 1,800 employees will be part of a dedicated, new image-guided therapy business group within Philips, which will be led by Philips executive Bert van Meurs, an experienced leader in the health care industry with a proven track record in the image-guided therapy market.

Financials
The acquisition will create a strategically and financially compelling combination that will provide higher growth, additional operating leverage through more productive sales operations, and enhance commercialization opportunities in new, adjacent segments.

Philips will drive operational performance improvements through cost synergies and the implementation of proven productivity improvement methodologies such as Lean.

As a result, the transaction is expected to be accretive to Philips’ reported earnings per share by 2017, and Philips targets an EBITA margin for its image-guided therapy business group of around 20% by 2017.

The transaction is structured as a cash tender offer by Philips for all of the issued and outstanding shares of Volcano, to be followed by a merger in which each share of Volcano not tendered in the tender offer will be converted into the USD 18.00 per share price paid in the tender offer.

Pursuant to the merger agreement, the transaction is subject to customary closing conditions, including certain regulatory clearances in the US and in certain non-US jurisdictions.

The tender offer is not subject to any financing conditions.

Philips intends to finance the acquisition through a combination of cash on hand and the issuance of debt.‎


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FG Approves First National Policy on Cosmetic Safety, Health

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Cosmetic products are widely used in Nigeria, but many consumers remain unaware of the chemicals they may contain.

FG Approves First National Policy on Cosmetic Safety, Health

Federal government has therefore approved the first national policy on cosmetics safety and health after nearly two decades of stalled attempts.

The policy was launched at the Sixty sixth National Council on Health in Calabar.

It establishes a clear system to regulate how cosmetic products are manufactured, imported, sold, used and disposed of.

The new policy supports major government priorities.

It aligns with the National Strategic Health Development Plan II, the National Chemical Safety Policy and the National Environmental Health Action Plan.

It also advances the Nigeria Health Sector Renewal Investment Initiative and strengthens the country’s commitments under the International Health Regulations and the Minamata

Convention on Mercury.

By improving regulation and surveillance, the policy strengthens health security, protects consumers and supports economic diversification.

It also responds to state level priorities, since implementation will take place across all thirty six states and the Federal Capital Territory.

Everyday products, real health risks

Cosmetics are part of daily life for millions of Nigerians, but many people do not know what is inside the products they use.

Amina Yusuf, a shop attendant in Tarauni local government area, Kano State, said she developed skin irritation after using a product sold as a “natural toning oil”.

“I thought it was safe because it was called organic,” Yusuf said. “But my skin became sensitive, and small cuts took longer to heal.”

A health worker later explained that the product likely contained harmful chemicals.

In Kura local government area, community members described how some traders repackage creams without labels. One resident said a neighbour developed rashes after using a mixture bought at a weekly market.

“People buy what they can afford,” she said.

“Most of us do not have access to formally regulated shops.”

In Sabon Gari market, Kano State, an expectant mother, Gloria Okafor, learned during an antenatal visit that a cream she used for stretch marks might contain heavy metals.

“I was careful with food and medicine during pregnancy,” Okafor said. “I never imagined body cream could be a risk.”

These experiences reflect wider challenges: limited consumer awareness, informal distribution systems and economic pressures that make unregulated products common.

The scale of the problem

Recent national and global assessments highlight both the scale and the safety concerns within Nigeria’s cosmetics sector.

Nigeria’s cosmetics industry has grown into a dynamic and increasingly sophisticated sector, with a market valuation exceeding US$ 7.8 billion¹.

Globally, the cosmetics market is valued at over US$ 429.2 billion², presenting both economic opportunity and regulatory challenges, particularly in low  and middle income countries (LMICs) such as Nigeria.

Since 2022, Nigeria has registered close to 9 000 cosmetic products that meet national regulatory requirements under the oversight of the National Agency for Food and Drug Administration and Control³, reflecting strengthened compliance efforts.

However, toxicological evidence remains concerning. Globally, over 100 known carcinogens and at least 15 endocrine disrupting chemicals have been identified in cosmetic formulations². In Nigeria, a study conducted in Anambra State found lead contamination in 62% of tested cosmetic products, with concentrations ranging from 0.10 to 42.12 mg/kg⁴ (exceeding the World Health Organization permissible limit of 10 mg/kg). Additional investigations in Ibadan and Lagos confirmed cadmium, lead and nickel levels above international safety limits in personal care products⁵⁻⁶.

These findings underscore the urgent need for strengthened surveillance, consumer awareness and enforcement to protect public health.

Why regulation matters

Studies in Nigeria have found high levels of lead, cadmium and other harmful substances in some cosmetic products.

These chemicals can cause kidney problems, skin damage and complications during pregnancy.

Market surveillance efforts in Kurmi market, Kano Municipal local government area, reveal widespread mislabelling and repackaging practices.

According to Audu Tanimu, National Agency for Food and Drug Administration and Control officer, “Some products are intentionally labelled to avoid suspicion, but laboratory testing shows restricted substances. Enforcement efforts are ongoing, yet informal supply chains continue to complicate traceability.”

Turn the vision to reality

After years of Nigeria’s vision to develop a cosmetic policy, World Health Organization (WHO) worked with the Federal Ministry of Health and Social Welfare, the National Agency for Food and Drug Administration and Control, the Nigeria Economic Summit Group, state governments, Resolve to Save Lives (RTSL), civil society and industry groups in 2025 to turn this into reality.

It provided technical guidance, reviewed evidence, supported meetings with partners and helped strengthen surveillance and reporting systems.

This support built on years of collaboration to improve chemical safety and International Health Regulations core capacities.

This work was supported by funding from the Foreign, Commonwealth and Development Office (FCDO) and RTSL.

What will change

The new policy introduces three main areas of action:

  • Regulatory oversight and governance — A unified national system will ensure all cosmetic products meet safety and quality standards and improve coordination across agencies.
  • Cosmetics vigilance and health intelligence — A national early warning system will help detect harmful products faster and support quicker public health responses.
  • Strengthening the cosmetics value chain — The policy supports safer manufacturing and responsible trade. It also aligns with African Continental Free Trade Area opportunities, helping local industries grow while protecting workers and consumers.

These changes are expected to reduce exposure to harmful chemicals, lower the number of cosmetic related health complications and improve consumer confidence.

A collective effort

Implementation will begin across all states and the Federal Capital Territory.

The Federal Ministry of Health and Social Welfare, the National Agency for Food and Drug Administration and Control, the Nigeria Economic Summit Group, state governments, civil society and private sector actors will lead the rollout. WHO and Resolve to Save Lives will continue supporting government efforts to strengthen surveillance, raise awareness and promote safer markets.

This milestone reflects the combined efforts of government, regulators, communities and partners working toward a shared goal: protecting Nigerians from harmful exposures and strengthening national health security.

A call to action

  • Political and financial commitment from government counterparts at all levels to prioritise implementation of the policy.
  • Consumers should choose labelled and registered cosmetic products to safeguard their health.
  • Industry actors should follow national safety standards.
  • Health workers play a critical role in identifying cosmetic related health effects early and responding appropriately.
  • Everyone should help raise awareness about the health effects of cosmetics and protect communities from preventable harm.

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Mobile Phones Used by Food Vendors Could Spread Infections- Experts

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Mobile phones used by food vendors may be a hidden source of harmful microorganisms that can contaminate food, a recent study has revealed.

Mobile Phones Used by Food Vendors Could Spread Infections- Experts

Published in the 2026 edition of the International Journal of Pathogen Research, the research analysed 20 phones from ready-to-eat food vendors, 10 smartphones and 10 button phones, collected between January and June 2025.

Laboratory tests detected a range of bacteria, including Bacillus, Staphylococcus, Klebsiella, Pseudomonas, Streptococcus, Escherichia, and Corynebact.

Bacillus and Staphylococcus were most common on button phones, each making up 25.6% of isolates, while Staphylococcus dominated smartphones at 37%.

Fungal organisms were also found, including Aspergillus, Candida, Mucor, and Rhizopus species.

Mucor was most prevalent on button phones, whereas Aspergillus and Rhizopus were more common on smartphones.

The study showed that button phones carried a higher microbial load than smartphones, and some of the microorganisms exhibited resistance to certain antibiotics, underscoring their public health significance.

Researchers said contamination is likely linked to frequent phone use after handling food or touching surfaces without proper hand hygiene.

They warned that mobile phones can act as fomites, objects that carry and transmit infectious agents, allowing microbes to transfer from hands to food.

The study urges food vendors to adopt safer practices, including regular handwashing, disinfecting phones, and avoiding mobile phone use while preparing or serving food.

Experts say the findings highlight the need for public awareness and hygiene education, noting that everyday devices like mobile phones may play a larger role in spreading infections than previously recognised, particularly in food service settings.


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Easybuy Sales Talent Program to Empower 10,000 Nigerians to Become Millionaires

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Easybuy, Africa’s leading smartphone and electronics financing provider and a pioneer in the continent’s Buy Now Pay Later (BNPL) sector, has announced plans to recruit up to 10,000 new business developers across Nigeria in a bold expansion move expected to accelerate job creation and deepen financial inclusion.

Operating through thousands of partner stores in Nigeria, Ghana, Ivory Coast, Senegal, and Tanzania, the company enables millions of customers to access mobile phones and home appliances through flexible ‘pay small small’ installment financing.

Set to run throughout 2026, the Easybuy Sales Talent Program is a revolving initiative designed to unlock income opportunities for thousands of talented Nigerians from sales professionals and young graduates to stay-at-home mothers, POS operators, and SIM registration agents. The program offers participants a structured monthly base pay alongside the potential to earn hundreds of thousands, and even a Million Naira in commissions, while working from the comfort of their mobile phones.

“This win-win partnership with Nigerians, on whose support we’ve come this far, reflects our continuous investment in people. Selected applicants of the Easybuy Sales Talent Program would be empowered with training and the opportunity to become financially independent,” said Jessica Ugwuoke, Chief Executive Officer, Newedge Finance Limited. “Like everything we do at Easybuy, this Sales Talent Program is driven by our vision of equal financial access for an easier life for everyone.”

The Easybuy Sales Talent Program is positioned as a strategic response to Nigeria’s unemployment challenge, targeting the country’s young, vibrant population.

According to the National Bureau of Statistics (NBS), youth unemployment stood at 6.5% among Nigerians aged 15–24 in Q2 2024, a figure analysts expect to remain a pressing concern into 2026. By creating structured earning pathways, Easybuy is aligning commercial expansion with measurable social impact, thereby setting a new benchmark for corporate social responsibility in emerging markets.

Beyond creating income opportunities for Nigerians, the Easybuy Sales Talent Program is structured to drive measurable economic impact, boosting household earnings, expanding consumer spending, and strengthening micro-entrepreneurship nationwide. As Nigeria’s unemployment rate is forecasted by Trading Economics to hover between 4.8% and 5.0% through 2027–2028, the initiative positions Easybuy not just as a market leader, but as a catalyst for sustainable economic growth.

Built on a powerful partnership with millions of its users, Easybuy has emerged as a leading BNPL provider in Africa. Since launching its Lagos operations in 2019, the company has helped drive rapid sector growth, with the BNPL market projected to expand from $1.42 billion in 2024 to more than $2.61 billion by 2030, according to the 2025 State of Enterprise Report. Backed by a nationwide network of over 2,000 sales agents and over 4500 partner stores, Easybuy is strategically positioned to accelerate market expansion and capture significant share in the years ahead.

As part of its sustained investment in human capital, Easybuy will equip participants with structured sales training, digital tools, and clear income pathways designed to accelerate financial independence. Anchored on the company’s vision of expanding equal access to finance across Africa, the Sales Talent Program reinforces Easybuy’s long-term growth strategy, building a pipeline of high-performing sales professionals while scaling inclusive economic opportunity nationwide via serving more underserved customers and communities.

Interested applicants can submit their CVs via the careers section of the Easybuy website, or create a TikTok video explaining why they are the ideal fit for the Program, using hashtags #EasybuySalesTalent and #MillionNairaChallenge, and upload the video link at https://easybuy.global/ng/careers/sales-talent-program.

Also, the creators of the weekly top 10 most-viewed videos will qualify for offer discussions. Easybuy welcomes applicants from diverse backgrounds and locations who are ready to build high-growth careers in sales.

 


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