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Philips acquires India-based Meditronics

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Royal Philips Electronics announced it has reached an agreement to acquire India-based Meditronics, a leading manufacturer of General X-Ray systems targeting the economy segment in India. 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. Financial details of this agreement were not disclosed.The announcement marks Philips’ growing presence in high-growth healthcare markets in emerging economies, and follows the earlier acquisitions of healthcare companies Alpha X-Ray Technologies in India, Chinese Shenzhen Goldway Industrial and Dixtal Biom

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