BRUSSELS Philips (PHG.AS) won permission from
the European Commission on Wednesday to buy U.S. sleep therapy
products maker Respironics Inc for $5.1 billion, its largest
deal to date in the fast-growing health-care sector.
The Commission said that while there were overlaps in the
companies' products, it concluded "that the operation would not
significantly impede effective competition in the European
Economic Area (EEA) or in any substantial part of it."
Dutch Philips -- the world's biggest lighting maker, a top
three hospital equipment maker and Europe's biggest consumer
electronics firm -- said when the deal was announced it would
pay $66 per share for Pennsylvania-based Respironics RESP.O.
Respironics is focused on medical equipment used in the
home, particularly to diagnose and treat sleep and respiratory
disorders such as obstructive sleep apnea.
(Reporting by David Lawsky; Editing by Dale Hudson)