Philips Targets Cardiovascular X-Ray in Emerging Markets
September 8, 2008 - Royal Philips Electronics reached an agreement to acquire India-based Alpha X-Ray Technologies, a manufacturer of cardiovascular X-ray systems targeting the economy segment of the Indian market, as Philips positions itself in high-growth emerging economies.
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.
Philips is growing its 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.
“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,” said Ronald de Jong, CEO Emerging Markets of Philips Healthcare.
Alpha’s product portfolio complements Philips’ existing high-end cardiovascular X-ray range and helps Philips to capture an even larger slice of the global EUR 1.8 billion cardiovascular X-ray market. 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 percent in coming years. Philips will use its global distribution network to sell Alpha’s cardiovascular X-ray products .
The acquisition of Alpha comes on the heels of two key product introductions in India: the SureSigns VM3 patient monitor and the Ultrasound HD15 system.
For more information: www.medical.philips.com