Philips Purchasing Respironics
Respironics signed a definitive agreement with Royal Philips Electronics to be acquired, described in a press release issued by Respironics. The total purchase price offered by Philips is $5.26 billion, in an all cash offer. The deal is anticipated to close shortly.
The acquisition will broaden Philips’s portfolio of tools for home monitoring, as well as tools that are used in the acute care setting. Particular products that will be integrated to expand such include products for home respiratory care and obstructive sleep apnea.
The deal has already received the unanimous approval of the Respironics’s Board of Directors. The company develops, manufactures, distributes, and markets tools and solutions for sleep therapy. The majority of the company’s business is in treating chronic respiratory disease and sleep-disordered breathing.
Once the deal is completed, Respironics will become the headquarters for the Philips’s Home Healthcare Solutions Group. It is anticipated that senior management will stay on with the organization.
January 7, 2008 Related topics: Mergers & Acquisitions