Phillips Acquires Alpha X-Ray Technologies

Amsterdam-based Royal Philips Electronics has reached an agreement to acquire Alpha X-Ray Technologies (Navi Mumbai, India), a manufacturer of cardiovascular X-Ray systems targeting the economy segment of the Indian market.

According to Philips, upon closing of this transaction in the fourth quarter of 2008 — which is subject to certain contractual and other conditions such as regulatory approvals — Alpha will become part of the cardiovascular X-Ray business within the company’s healthcare sector.

Financial details of the agreement were not disclosed.