Royal Philips Electronics has reached an agreement to acquire Alpha X-Ray Technologies, a manufacturer of cardiovascular x-ray systems in India.
Upon closing of this transaction in the fourth quarter, which is subject to certain contractual and other conditions such as regulatory approvals, the Panvel, India-based Alpha said it will become part of the cardiovascular x-ray business within Philips’ healthcare sector.
Philips did not disclose the financial details of the agreement.
Ronald de Jong, CEO of emerging markets for Philips Healthcare, said that the Alpha acquisition is an example of how Philips is strengthening its industrial and commercial footprint in emerging markets, providing the company with a presence in the growth segment for cardiovascular x-ray systems.
This acquisition follows Philips’ earlier acquisitions of healthcare companies, the São Paulo, Brazil-based Dixtal Biomédica e Tecnologia, Shenzhen Goldway Industrial in Shenzhen, China and VMI Sistemas Medicos in Minas Gerais, Brazil.