Philips Healthcare has reached an agreement to acquire Indian cardiovascular x-ray developer Alpha X-Ray Technologies.
Mumbai-based Alpha manufactures cardiovascular x-ray systems targeting the economy segment of the Indian market, according to the Andover, MA-based vendor. The deal is expected to be completed in the fourth quarter of 2008, subject to certain contractual and other conditions such as regulatory approvals, Philips said.
Alpha will become part of Philips' cardiovascular x-ray business. Terms of the deal were not disclosed.
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