Yes, you read it right – billion, not million. Putting its previous two recent acquisition announcements into the shade, this huge deal is billed by Gerard Kleisterlee, President and Chief Executive Officer of Philips as “another major milestone towards the completion of our objective to build market leadership positions in high-growth, high-margin businesses across the three market sectors of healthcare, lighting and consumer lifestyle.” The press release continues: “Upon completion of this acquisition, Respironics will become the centerpiece of Home Healthcare Solutions, which will form part of Philips Healthcare as of January 1, 2008.”
Respironics is a provider of equipment for sleep therapy and respiration monitoring used in home settings as well as in hospitals and clinics. Respironics has approximately 5,300 employees worldwide.
Is this the end of Philips’ repositioning in this market? Will Philips now have access left to sufficient resources to acquire Tunstall, or is that just not part of either company’s game plan?
Philips’ press release.
Philips cannot purchase Tunstall, Philips is already way over their head with adding Health-Watch subscribers. Tunstall Products and monitoring are superior to Philips Lifeline.
I don’t see why Philips wouldn’t have their eye on Tunstall, especially after their Lifeline aquisition a while ago, if they plan on being a leader I wouldn’t put this past them.