Amsterdam, The Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced 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 for hospitals, imaging centers and specialty medical clinics. 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.
Philips expects to complete the transaction in the second half of 2019, subject to customary closing conditions, including the relevant regulatory approvals. Financial details of the transaction were not disclosed.