The company will acquire EGI hardware, software and sensor nets assets and start managing its global sales, service and support. Philips will support the transition until the end of this year.
EGI develops non-invasive multimodal technologies to monitor brain activity and provide transcranial electrical stimulation in brain research.
EGI’s proprietary dense array electroencephalography (EEG) technology collects data from more electrodes than conventional EEG. The technology is used to evaluate the electrical activity in the brain.
Developed by EGI, Geodesic Sensor Net (GSN) can produce high-resolution data and is used worldwide by neuroscience researchers.
Magstim Group CEO Lothar Krinke said: “This adds high-density EEG to our product portfolio, supporting more than 1,200 research labs and clinics that focus on mental health, brain disorders and cognitive neuroscience.
“Magstim has been pioneering and advancing transcranial magnetic stimulation for 30 years. High-density EEG closes the loop for the development of a comprehensive system for non-invasive neuromodulation. Magstim and EGI share a legacy and passion for innovation in neuroscience.”
Following the acquisition, Magstim plans to maintain a presence in EGI’s Oregon office supported by its global offices in the UK, Netherlands and Minneapolis, US.
The company is the pioneer of transcranial magnetic stimulation, a non-invasive, outpatient therapy cleared by the Food and Drug Administration (FDA) for major depressive disorder.