Philips acquires ultrasound equipment firm Shanghai Apex Electronics

July 29, 2010

Amsterdam, the Netherlands and Shanghai, China – Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced today that it has acquired Shanghai Apex Electronics Technology Co. Ltd.(“Apex”), a leading Chinese manufacturer of ultrasound transducers – key determinants of image quality for ultrasound systems. The acquisition strengthens Philips’ portfolio of high quality transducers specifically aimed at the value segment in emerging markets.

Ultrasound is a widely used diagnostic procedure that provides a non-invasive and real-time method of observing soft tissue anatomy.

The acquisition marks another step in Philips’ expanding presence in emerging markets, following the earlier acquisitions of Meditronics and Alpha X-Ray Technologies in India, Shenzhen Goldway Industrial in China, and VMI Sistemas Medicos and Dixtal in Brazil. In 2009, Philips also announced the establishment of an industrial and R&D facility for imaging systems in Suzhou, China. Most recently, in 2010, Philips acquired healthcare informatics company Tecso Informatica in Brazil and established a partnership with medical equipment manufacturer Electron for the development of healthcare products in Russia.   

Founded in 1998 and employing over 130 employees, Shanghai Apex Electronics is one of the leading manufacturers of ultrasound transducers for medical equipment companies in emerging markets. Financial details of the acquisition were not disclosed.

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