Philips Electronics Makes Bid to Take Over Visicu, Inc.
Philips Electronics, a leading manufacturer of portable defibrillators, is reorganizing its business to focus on medical equipment products and consumer electronics. This follows the company’s decision to last year to sell its semi-conductor business.
As part of its commitment to its renewed focus on medical equipment, Philips has bid to take over U.S. medical services company Visicu Inc., and expects to receive approval from both shareholders and regulators. Philips hopes to close the deal in the first quarter of 2008.
With the integration of Visicu, Philips plans to expand the company’s offerings of patient monitors.
As announced in November of 2007, Philips is also in the process of completing the acquisition of US-based medical software manufactuer Emergin, which is expected to close in the fourth quarter of 2007.
Philips Electronics of the Netherlands is a world leader in the manufacturing of portable defibrillators. One of their most popular products, the Philips HeartStart OnSite AED Defibrillator, is the first AED defibrillator available to commercial users without a prescription.