Kortrijk, Belgium - Medical imaging specialist Barco has signed an agreement to acquire Italy-based display company FIMI, a fully owned subsidiary of Royal Philips Electronics' Healthcare business. Through the acquisition, Barco reaffirms its growth strategy in the medical market by further expanding its footprint and tapping into new market segments, such as mobile point of care devices. The total transaction cost at closing is Euro 19 million. The contract further provides for an additional earn-out of Euro 10 million over the next five years. The transaction is subject to certain customary conditions being met.

Eric Van Zele, Barco's President and CEO, stated: "Our Medical Imaging Division has been performing strongly in recent years both sales and profit-wise. The acquisition of FIMI fits well within the overall growth strategy of the division as it further strengthens our existing product portfolio, opens opportunities in new segments of medical imaging, and strengthens our strategic relationship with Philips."

"Medical professionals increasingly depend on state-of-the-art imaging technology to make critical decisions and define treatment paths for their patients," explained Piet Candeel, Vice President of Barco's Medical Imaging Division. "Both Barco and FIMI have gathered extensive experience and technological know-how in the medical display market. While FIMI's main strength lies in dedicated modality monitors, patient monitoring and mobile point of care devices, Barco is a market leader in the diagnostic and mammography display market. By bringing all this expertise under one roof, we can offer our customers an even more comprehensive medical display portfolio for their various visualization requirements."
Besides a complementary portfolio of products and solutions, Barco and FIMI can boast an enviable customer base, including the major OEM players in the global healthcare visualization market. Barco is confident that the acquisition of FIMI will open up new sales and business opportunities, which will underpin its position in the medical display market in the years to come. Moreover, it will allow Barco to further develop its relationship with Philips Healthcare as a global customer.

"We are very pleased to become part of the Barco family. This agreement is a significant step forward for our company," stated Franco Martegani, CEO of FIMI. "Barco and FIMI have a common philosophy of bringing innovative, customer-centered display solutions to the market via partnerships with the world's leading original equipment manufacturers (OEM), systems integrators and resellers. Joining forces with Barco, a market leader in the medical imaging industry, enables us to increase our reach, and creates significant benefits for our OEM customers," he concluded.

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