Canon to make Toshiba Medical Systems a subsidiary

The acquisition is part of Canon's Excellent Global Corporation Plan – a five-year initiative launched in 2016 – under which the company aims to achieve growth through a strategic transformation. This includes reinforcing and expanding new businesses in particular, Canon intends to cultivate its health care business within the safety and security sector as a next-generation pillar of growth. By maximizing the combination of both companies' management resources, Canon aims to solidify its business foundation for health care that can contribute to the world. The transaction is conditional upon the clearance of necessary competition regulatory authorities.