Philips ups presence in emerging markets with Shanghai buy
This article was originally published in Clinica
Philips has continued its programme of expansion in emerging geographies by acquiring Shanghai Apex Electronics Technology, a Chinese manufacturer of ultrasound transducers. The transaction reinforces the company’s supply of transducers used to convert electrical energy into ultrasound. Steve Rusckowski, CEO of Philips Healthcare, said the firm was focussing efforts on introducing ultrasound to emerging markets because it “is a critical yet affordable and mobile modality for early diagnosis and real-time imaging”. Financial terms of the deal were not disclosed. Philips has previously made inroads into the Chinese market by acquiring patient monitoring firm Shenzhen Goldway Industrial in 2008 (www.clinica.co.uk, 18 April 2009).