Philips acquires Meditronics

New Delhi: Dutch consumer electronics major Royal Philips Electronics said it bought Mumbai-based Meditronics, a leading manufacturer of general x-ray systems, to expand its economy product in the healthcare imaging business. The company did not reveal the value of the acquisition. This is the second acquisition by Philips in the domestic healthcare imaging sector and the fifth one in the emerging markets since 2007.

Meditronics manufactures surgery and radiography X-rays and employs around 150 people across its R&D and production centres in the country.

Philips had bought Mumbai-based Alpha, a maker of cardiovascular X-ray systems, three months ago.

Philips plans to leverage its global distribution network to expand its offering of economy X-ray products in other emerging and importantly, mature markets, Gerard Kleisterlee, chief executive officer (CEO), of the company said.