Philips Completes Acquisition of Witt Biomedical Corporation
by
Barbara Kram, Editor | May 03, 2006
Amsterdam, The Netherlands - Royal Philips Electronics (NYSE:PHG, AEX:PHI) has completed its acquisition of Witt Biomedical Corporation, the largest independent supplier of hemodynamic monitoring and clinical reporting systems used in cardiology catheterization laboratories (Cath Labs). Under the terms of the agreement, which was first announced on March 8, 2006, Philips acquired Witt Biomedical for USD 165 million. As a result of the transaction, Witt Biomedical will be financially consolidated with immediate effect within the Cardio/Vascular X-Ray business of Philips' Medical Systems division.
