Philips Healthcare of Andover, MA, has reached an agreement to acquire general x-ray systems manufacturer Meditronics of Mumbai, India.
The companies expect to complete the transaction before the end of the year. Meditronics would become part of Philips' Imaging Systems business. Financial details of the agreement were not disclosed.
Meditronics' portfolio is expected to dovetail with Philips' high-end general x-ray products line, and the deal strengthens Philips' position in India's high-growth imaging and monitoring equipment market.
Philips plans to expand sales in the local Indian market and leverage its global distribution network to expand its offerings of x-ray products in other emerging and mature markets.
The Meditronics deal is Philips' second Indian acquisition in the past three months. In September, Philips bought Alpha, a manufacturer of cardiovascular x-ray systems.
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