EX-99.5 6 d382908dex995.htm EX-99.5 EX-99.5

Exhibit 99.7

Email to employees of Philips’ Image Guided Therapy Devices Division, dated June 28, 2017.

Dear IGT Devices Team,

To build on the note that Bert just sent to the entire organization, I am thrilled to announce that we will be expanding the IGT Devices family and merging with Spectranetics. Driven by our purpose: to enable healthcare providers


to decide, guide, treat, and confirm in one setting – optimizing care, reducing costs and getting cardiac and vascular disease patients back to living the lives they love, Spectranetics will help us accelerate this commitment to the patients we serve by expanding our presence and reach into these very exciting peripheral and cardiovascular markets.

It is a great honor and pleasure to welcome the Spectranetics team to Philips Image Guided Therapy. Bringing Spectranetics into our team enables us the opportunity to build on the success of Volcano acquisition with our demonstrated ability to integrate growing device players. With this merger, we continue down the path of fulfilling and building out our strategy to create a portfolio of highly differentiated therapy solutions for patients who suffer from cardiac and peripheral artery disease. In this journey, we will enter the rapidly growing drug-coated balloon (DCB) space and have one of the most exciting product solutions in our arsenal for patients who suffer from peripheral vascular disease. Combined with Spectranetics, our IGT Devices business is forecast to exceed € 1B by 2020 and create new growth drivers for Philips in the fast growing vascular intervention market.

In addition to the exciting peripheral growth opportunities, Spectranetics expands Philips’ IGT Devices offerings in our coronary business. The strategic additions of the scoring balloon and coronary atherectomy will provide two new growth platforms for our coronary business to expand their procedural solutions beyond IVUS and physiology. At the same time, Spectranetics will expand IGT’s unique and differentiated value proposition for customers linking imaging and devices and opens new growth vectors for Philips in segments such as electrophysiology. Spectranetics’ strong position in lead management will create a wonderful opportunity to begin our introduction into a very specialized field like electrophysiology.

Beyond technology, the people, knowledge and skills the Spectranetics team will bring to Philips is very important to our success and I am thrilled to share with you that the IGT Devices team will nearly double with this merger, with an expected addition of over 900 employees to our team. Again, I want to take this opportunity to welcome this team into our new family here within Image Guided Therapy.

We recognize that the Volcano integration was intensive, but it was extremely successful. To this point, we will leverage what we have learned and we will form an experienced integration team to support this new integration in bringing the people, assets and technology together within Philips. Born from the partnership and success of the Volcano integration into Philips we were able to invest in our future with the acquisition of Spectranetics.

For more information on Spectranetics and the acquisition, please click here to view some Frequently Asked Questions we have prepared.


This is an exciting advancement for our business, our customers, and, most importantly, our patients as we continue our work to simplify care and improve lives. Currently, we expect that this transaction will close in Q3 of 2017. Until the transaction does close, please continue to remain focused on our original plans and finish up Q2 in a strong fashion. Thank you, in advance, for your commitment and support in welcoming and integrating the Spectranetics team.

One Team,

Chris Barys

Business Leader, IGT Devices

Additional Information

This communication relates to a tender offer (the “Offer”) that has not yet commenced, and this communication is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of The Spectranetics Corporation (“Spectranetics”) or any other securities. On the commencement date of the Offer, a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, will be filed with the United States Securities and Exchange Commission (the “SEC”) by Philips and a Solicitation/Recommendation Statement on Schedule 14D-9 will be filed with the SEC by Spectranetics. The offer to purchase shares of Spectranetics common stock will only be made pursuant to the offer to purchase, the letter of transmittal and related documents filed as a part of the Schedule TO. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ BOTH THE TENDER OFFER STATEMENT AND THE SOLICITATION/ RECOMMENDATION STATEMENT REGARDING THE OFFER, AS THEY MAY BE AMENDED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The tender offer statement will be filed with the SEC by HealthTech Merger Sub,


Inc., a wholly owned subsidiary of Philips Holding USA Inc., which is a wholly owned subsidiary of Royal Philips, and the solicitation/recommendation statement will be filed with the SEC by Spectranetics. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the Information Agent for the Offer, which will be named in the tender offer statement.

Cautionary Statement Regarding Forward-Looking Statements

This communication may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items, including without limitation completion of the Offer and merger and any expected benefits of the merger, and certain forward-looking statements regarding Spectranetics, including without limitation with respect to its business, the proposed Offer and merger, the expected timetable for completing the transaction, and the strategic and other potential benefits of the transaction. Completion of the Offer and merger are subject to conditions, including satisfaction of a minimum tender condition and the need for regulatory approvals, and there can be no assurance that those conditions can be satisfied or that the transactions described in this communication (the “Transactions”) will be completed or will be completed when expected. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “expected,” “scheduled,” “estimates,” “intends,” “anticipates,” “projects,” “potential,” “continues” or “believes,” or variations of such words and phrases, or by statements that certain actions, events, conditions, circumstances or results “may,” “could,” “should,” “would,” “might” or “will” be taken, occur or be achieved. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, (i) the risk that not all conditions of the Offer or the merger will be satisfied or waived; (ii) uncertainties relating to the anticipated timing of filings and approvals relating to the Transactions; (iii) uncertainties as to the timing of the Offer and merger; (iv) uncertainties as to how many of Spectranetics’ stockholders will tender their stock in the Offer; (v) the possibility that competing offers will be made; (vi) the failure to complete the Offer or the merger in the timeframe expected by the parties or at all; (vii) the outcome of legal proceedings that may be instituted against Spectranetics and/or others relating to the Transactions; (viii) the risk that the Transactions disrupt current plans and operations of Spectranetics and affect its ability to maintain relationships with employees, customers or suppliers; (ix) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate Spectranetics’ operations into those of Philips; (x) the successful implementation of Philips’ strategy and the ability to realize the benefits of this strategy; (xi) domestic and global economic and business conditions; (xii) regulatory developments affecting Philips’ and or Spectranetics’ actual or proposed products or technologies; (xiii) political, economic and other developments in countries where Philips operates; (xiv) unpredictability and severity of catastrophic events; (xv) industry consolidation and competition; and (xvi) other risk factors described in Spectranetics’ Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC. Any forward-looking statements in this communication are based upon information known to Philips on the date of this communication. Neither Philips undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.