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Electronics Production | September 08, 2008

Philips acquires India-based Alpha X-Ray Technologies

Royal Philips Electronics has reached an agreement to acquire India-based Alpha X-Ray Technologies.
Alpha is a manufacturer of Cardiovascular X-Ray systems targeting the economy segment of the Indian market. Upon closing of this transaction in the fourth quarter of 2008, which is subject to certain contractual and other conditions such as regulatory approvals, Alpha will become part of the Cardiovascular X-Ray business within Philips’ Healthcare sector. Financial details of this agreement were not disclosed.

Today’s announcement marks Philips’ strong presence in high-growth healthcare market in emerging economies, and follows the earlier acquisitions of healthcare companies Brazilian Dixtal Biomédica e Tecnologia, Shenzhen Goldway Industrial in China and VMI Sistemas Medicos in Brazil.

Analysts estimate that the economy segment is the fastest growing segment of the global Cardiovascular X-Ray market, with anticipated annual growth rates of 10% to 15% in coming years. Philips will leverage its global distribution network to sell Alpha’s Cardiovascular X-Ray products thus maximizing the value of the acquisition and adding another growth engine to Philips Healthcare’s emerging markets business.

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