FDAnews Device Daily Bulletin

PHILIPS TO ACQUIRE MRI MEDICAL SYS, COMPONENTS AND ACCESSORIES MFG

June 19, 2006
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Strategic acquisition by Philips of a medical systems and components, super conducting magnets and RF coils manufacturer for the medicinal market.

Royal Philips Electronics announces it has signed a definitive agreement with Intermagnetics General Corporation under which Philips will acquire Intermagnetics for USD 27.50 per share or a total equity value of approximately USD 1.3 billion (EUR 1 billion) to be paid in cash upon completion.

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