Investor expands stake in Nuance

Long-time Nuance investor Warburg Pincus has agreed to buy $175 million of common stock in the speech recognition company, raising its stake from 15.5% to 22%. Proceeds from the sale, announced Jan. 15, may be used to buy companies or for general corporate purposes. Under the deal, which is expected to close next month, Warburg Pincus will purchase 17.4 million shares at $10.06 per share, about 10% higher than the share price close on Jan. 14. The firm will also acquire a warrant to purchase an additional 3.9 million shares at an exercise price of $11.57 per share in the coming four years. Warburg Pincus will hold the initial 17 million shares for a minimum of six months after the deal closes. News of the investment bumped the stock to trade slightly more than $10 per share, before settling around $9.90 at midday.

Hansen, Philips strike alliance

Robotics specialist Hansen Medical will codevelop products with Philips Healthcare under a joint development and cooperation agreement signed by Hansen and Royal Philips Electronics. Development work will focus on pairing the Sensei Robotic Catheter system, which guides cardiovascular interventions, with Philips' Allura Xper x-ray system to provide real-time data during interventions to cure cardiac arrhythmias.