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Philips To Buy Healthcare Information Systems Unit From Carestream Health

Dutch consumer electronics giant Philips Electronics NV (PHGFF.PK,PHG) announced Thursday that it has signed an agreement to acquire the Healthcare Information Systems business of Carestream Health Inc., a US-based provider of medical imaging and healthcare IT solutions. Financial details of the transaction were not disclosed.

Philips expects to complete the transaction in the second half of 2019, subject to customary closing conditions, including the relevant regulatory approvals.

With the acquisition, Philips expects to expand its radiology informatics portfolio. Carestream's cloud-based enterprise imaging platform will augment Philips' current radiology informatics offering for imaging data management, workflow enhancement, and advanced visualization and analysis.

Moreover, Carestream's Healthcare Information Systems business and installed base in Latin America, Europe and Asia are highly complementary to Philips' market leadership in high-end radiology informatics in North America.

The Healthcare Information Systems business and its approximately 900 employees will become part of Philips' Healthcare Informatics business within the Diagnosis & Treatment segment.

Meanwhile, Carestream will retain its medical imaging, dental and industrial films, non-destructive testing, and precision coating businesses, which are not impacted by the sale of the Healthcare Information Systems business to Philips.

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