Ronald de Jong, chief executive emerging markets at Philips Healthcare, told reporters the acquisition, which includes a factory in China’s Guangdong, would fit well with Respironics, a company Philips bought in 2007.
Respironics delivers liquid medication for asthma and other bronchial diseases in the form of a fine mist, through a device called a nebulizer. “We see significant synergies with Respironics (and) ... expect to expand our position in the nebulizer market,” De Jong said, declining to give any financial information.
De Jong seeks to boost Philips Healthcare’s market share for health care equipment in emerging markets to 25 percent in 2012 from 18.5 percent in 2007.
Emerging markets represented a 4.7 billion euro ($6.3 billion) equipment market in 2007, a figure expected to grow to 6.6 billion euros in 2010, Philips estimates. (Reporting by Harro ten Wolde; editing by John Stonestreet) ($1=.7426 Euro)
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