Philips acquires Shenzhen Goldway
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Add as a favourite source on Google Add DutchNews as a favourite source on GoogleElectronics giant Philips announced an agreement on Friday for the acquisition of all outstanding shares in the Chinese patient monitoring devices manufacturer Shenzhen Goldway.
No financial details were disclosed but the transaction is expected to finalised in the second quarter of 2008.
Shenzhen Goldway is of interest to Philips because the Chinese healthcare market is estimated to be growing at around 10% a year.
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