Royal Philips Electronics ("Philips") has agreed to acquire all outstanding shares in Shenzhen Goldway Industrial, Inc. (Goldway). Goldway is based in Shenzhen, China. While details of this recent financial move have not yet been released, the transaction should occur within the second quarter of this year. Goldway will then join Philips' extensive Healthcare sector.

The move to acquire Goldway, the second largest domestic patient monitoring company in China, gives Philips the means to solidify its patient monitoring market in China as well as expand to other markets, says Deborah DiSanzo, Senior Vice President and General Manager of Philips' Patient Monitoring business. According to DiSanzo, Goldway's devices are top quality and would work in favorably with Philips' own patient monitor line in the Chinese markets and other promising global markets. Goldway's products are prevalent within mid and large sized hospitals within China. China's own monitor market is growing at a rate of approximately 10 percent a year.

Philips is headquarted in the Netherlands, and is a major presence in the U.S. healthcare market. Philips employs 134,200 persons in more than 60 countries worldwide and claims sales of $36.8 billion in 2007. Philips carries an extensive line of patient monitors and medical diagnostic imaging systems.

Goldway, founded in 1995, has offices throughout China. The company manufactures adult and neonate patient monitors that include the gamut from central station systems, standalones to handheld oximeters. Goldway also carries OB/GYN, respiratory and anesthetic devices. Several of Goldway's products are FDA approved in the US or have the European CE certification, and quality management systems according to ISO 9001 & ISO 13485 standards. The company exports to Southeast Asia, the Middle East, Europe, the Americas, Russia and Africa. The company also has an office in New York for its American market.

More information at: www.medical.philips.com