Announcement marks Philips’ strong presence in high-growth healthcare market in emerging economies, and follows the earlier acquisitions of healthcare companies Brazilian Dixtal Biomédica e Tecnologia, Shenzhen Goldway Industrial in China and VMI Sistemas Medicos in Brazil. In commenting on the deal, Mr. Ronald de Jong, CEO Emerging Markets of Philips Healthcare, said: The acquisition of Alpha is another great example of how Philips continues to strengthen its industrial and commercial footprint in emerging markets. It provides us with significant presence in the high-growth economy segment for Cardiovascular X-Ray systems, underlining our commitment to deliver affordable healthcare solutions in emerging markets.
lpha’s high-quality and clinically proven economy segment product portfolio complements Philips’ existing high-end Cardiovascular X-Ray range and helps Philips to capture an even larger slice of the global EUR 1.8 billion Cardiovascular X-Ray market. Analysts estimate that the economy segment is the fastest growing segment of the global Cardiovascular X-Ray market, with anticipated annual growth rates of 10% to 15% in coming years. Philips will leverage its global distribution network to sell Alpha’s Cardiovascular X-Ray products thus maximizing the value of the acquisition and adding another growth engine to Philips Healthcare’s emerging markets business.
Murali Sivaraman, CEO of Philips Electronics India Ltd said, The addition of Alpha represents another significant addition to our emerging markets healthcare product portfolio, and comes on the heels of two key product introductions in India: the SureSigns VM3 patient monitor and the cost-effective Ultrasound HD15 system. Furthermore, this acquisition highlights the pivotal role India plays in Philips’ emerging markets growth strategy. Going forward, we are committed to leverage both organic and inorganic opportunities to drive growth in India, Mr. Sivaraman added.
