Ad
Ad
Ad
Ad
Electronics Production | November 21, 2008

Philips acquiring India-based Meditronics

Royal Philips has reached an agreement to acquire India-based Meditronics, targeting the economy segment in India. Financial details of this agreement were not disclosed.
Upon closing of this transaction in the fourth quarter of 2008, which is subject to certain contractual and other conditions such as regulatory approvals, Meditronics will become part of the Imaging Systems business within Philips’ Healthcare sector.

Today’s announcement is Philips’ second acquisition within the last three months of a healthcare equipment maker in India specialized in supplying products for the economy segment - one of the fastest growing market segments in the global healthcare equipment market. Philips announced in early September the acquisition of Alpha, a leading manufacturer of Cardiovascular X-Ray systems. Analysts estimate the economy segment of the global Cardiovascular X-Ray market shows annual growth rates of 10% to 15%.

“Executing on our strategic decision to scale up our presence in emerging markets has been an important element of Philips’ transformation into a focused, less-cyclical company in recent years,” said Mr. Kleisterlee. “We are committed to continue this course of action by increasingly redirecting resources to help fuel growth in emerging markets, and build out our industrial footprint in this cost-effective and high-quality manufacturing environment - for Healthcare, but also for our Consumer Lifestyle and Lighting sectors.”

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
September 15 2017 9:25 AM V8.7.1-1