Philips talks down expectations of more large acquisitions

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Growth by acquisition was a key part of Philips’s growth strategy in the telecare and home health market this past decade. However, in an interview, Stephen Rusckowski, the head of Philips Healthcare in Amsterdam, has said that it will now be refraining from ‘landscape-changing’ deals, but he doesn’t rule out making some more ‘small acquisitions’. Editor Steve wonders whether, given the size of previous deals such as Lifeline Systems for $750 million in 2006 and Respironics for €3.6 billion in 2008, something the size of, say, Tunstall Group, looks big or small to Philips. Maybe Mr Rusckowski was using the interview to help adjust possible acquisition target expectations. Philips Electronics Seeks Small Home-Healthcare Purchases, Unit Chief Says. Bloomberg. [Heads-up thanks to Chrys Meewella, TANN England contributing editor.]