Philips Medical Systems parent Royal Philips Electronics has finalized its acquisition of Marconi Medical Systems for a total price of $1.1 billion. The purchase of Marconi marks the end of Philips' aggressive spending spree, which has included blockbuster purchases of ADAC Laboratories, ATL Ultrasound, and Agilent's Healthcare Solutions Group over the past three years.
Conclusion of the deal means that Cleveland-based Marconi's 5,000 employees will join Philips. Marconi's businesses will be integrated into Philips Medical Systems, and its products and services will operate under the Philips brand, according to the Dutch firm.
By AuntMinnie.com staff writersOctober 22, 2001
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