News reports have indicated that Fujifilm Holdings could be a potential buyer for the medical systems business of Toshiba, as Toshiba looks to restructure in the wake of an accounting scandal.
A December 30 report in the Japanese newspaper Yomiuri Shimbun stated that Toshiba had "sounded out" Fuji as a potential buyer for its Toshiba Medical Systems business. Several other companies have also shown interest in the business, and a competition could develop, with Toshiba determining the buyer by March 2016.
The story goes on to state that healthcare has been a core element of Toshiba's growth strategy, but the company's financial position has "deteriorated" following the recent disclosure of accounting irregularities that led the firm to forecast a $4.5 billion loss for 2015. Toshiba therefore is looking to sell a stake in Toshiba Medical valued at 50% or more. The buyer most likely will be a Japanese company, as it could be difficult to obtain approval from the Japanese government for an overseas buyer.
For its part, Fuji has been looking to diversify from its legacy business in photographic film, and it has demonstrated an appetite for acquisitions in medical imaging, such as its purchase of vendor-neutral archive firm TeraMedica earlier in 2015 and its acquisition of SonoSite in 2012. There is little overlap in product lines between the firms, with Toshiba focusing on big-iron modality scanners such as CT and MRI, while Fuji's Fujifilm Medical Systems USA division has concentrated on healthcare IT and handheld ultrasound.
