Philips to Buy Chinese Patient Monitoring Company

Amsterdam-based Royal Philips Electronics is acquiring Shenzhen Goldway Industrial, a China-based patient monitoring company.

The transaction is expected to close in the second quarter of 2008, upon which Goldway will become part of the patient monitoring business within Philips’ Healthcare sector.

Through the acquisition, Philips says it hopes to expand its presence in China’s growing healthcare market and offer export platform to other emerging markets.

Financial terms of the deal were not disclosed.