Eizo Nanao Corporation, Ishikawa, Japan, and Siemens Automation and Drives (A &D), Nuremberg, Germany, announced they have entered into a definitive agreement for Eizo to acquire Siemens’ medical monitor business. Eizo will take on about 130 employees and the operations in Karlsruhe, Germany, as well as related employees in the United States, France and China. The A &D sales revenue of the business was $59 million in FY2006 (ending September 30). The transaction is subject to approval of the relevant authorities. The acquisition is to be completed in calendar year 2007.
"In our mid-term business plan, Eizo has committed to expand the medical monitor business extensively,” said Yoshitaka Jitsumori, president and CEO of the Eizo Nanao Corporation. “This acquisition will drive that commitment." Both Eizo and Siemens have long-standing experience in the monitor industry and also have their own state-of-the-art technology, know-how and an extensive customer base. Whereas A &D’s strength is in monitors for x-ray, tomography and mammography, Eizo is successful with monitors for PACS applications. With Eizo producing in Japan and Siemens in Germany, the acquisition creates the strong basis for boosting Eizo’s medical monitor business.
"In future, only suppliers with a coordinated and complete range of medical monitors will be able to show profitable growth in this segment,” Dr. Helmuth Ludwig, division president of the Systems Engineering division (SE) at Siemens A &D. “We part from the profitable medical monitor business as it does not belong to A &D’s core activities and will be more successful when linked up to a strong supplier in the long run."