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Philips buys China's No 2 in patient monitoring for Asian expansion:

This article was originally published in Clinica

Executive Summary

In a move to broaden its presence in the Chinese healthcare market, Philips has acquired China's second largest patient monitoring company, Shenzhen Goldway Industrial. Goldway's range of FDA-cleared and CE-marked patient monitors helped the company grow its sales by 30% in 2007. The 290-strong company has a distribution network that serves mid- and large-sized hospitals throughout China, according to Philips. On completion of the transaction, which is expected in the second quarter of 2008, Goldway will become part of Philips Healthcare's patient monitoring division.

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