Philips to acquire Mumbai-based Alpha X-Ray Technologies

Royal Philips Electronics, a global provider of healthcare, lifestyle and lighting products and solutions has announced to acquire India-based Alpha X-Ray Technologies, for an undisclosed amount.

Headquartered in Panvel, close to Mumbai, the privately-held Alpha is a manufacturer of Cardiovascular X-Ray systems targeting the economy segment of the Indian market. The transaction which is expected to be completed in the fourth quarter of 2008, and is subject to certain contractual and other conditions, the company said in a statement. Alpha will become part of the Cardiovascular X-Ray business within Philips’ Healthcare sector.
 
Ronald de Jong, CEO, Emerging Markets of Philips Healthcare, said: “The acquisition of Alpha is another great example of how Philips continues to strengthen its industrial and commercial footprint in emerging markets. It provides us with significant presence in the high-growth economy segment for Cardiovascular X-Ray systems, underlining our commitment to deliver affordable healthcare solutions in emerging markets.”