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Electronics Production | April 11, 2008

Philips acquires Shenzhen Goldway

Royal Philips has reached an agreement with the shareholders of Shenzhen Goldway, based in China, to acquire all outstanding shares in Goldway.
Financial details of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2008, upon which Goldway will become part of the Patient Monitoring business within Philips’ Healthcare sector.

Deborah DiSanzo, Senior Vice President and General Manager of Philips’ Patient Monitoring business said: “Philips already has a leading position in the premium segment of China’s patient monitoring market. This acquisition offers us a perfect opportunity to further strengthen our position in China and to increase our presence in other emerging markets. Goldway has a track record of providing excellent medical devices that are complementary to Philips’ existing patient monitoring product base, not only for the Chinese market, but for export to other value-conscious, high-growth markets around the world.”

Goldway offers patient monitoring solutions that range from basic standalone to more fully-equipped monitors, including products that have been FDA approved in the United States or carry the “CE” certification in Europe. In addition, Goldway has a strong dealer network, hospital focused service capabilities as well as cost effective manufacturing operations that all contribute significantly to its competitive position. Acquiring Goldway will secure Philips a broader presence in the Chinese healthcare market, which is estimated to be growing at approximately 10% per year.

Goldway is the second largest domestic patient monitoring company in China with excellent access to mid- and large-size hospitals throughout the country. Employing a staff of 290, the company grew its 2007 sales by approximately 30 percent.
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November 11 2018 12:47 pm V11.8.0-2