Royal Philips Electronics to Acquire Respironics for USD $66.00...(annel and includes noninvasive and invas...),Health

Upon closing, Respironics will become the headquarters for Philips Home Healthcare Solutions group within Philips Healthcare, and Respironics' senior operating leadership are expected to remain with the organization and will continue to lead and manage the business. Philips has made a number of successful acquisitions in the area of Home Healthcare so far including Lifeline Systems, Health Watch and Raytel Cardiac Services. Today, Philips Home Healthcare Solutions supports almost one million at-risk seniors, either in their own homes or in senior living facilities throughout the U.S. and Canada.

"The transaction we are announcing today will deliver superior and certain value to Respironics' shareholders," said John L. Miclot, President and Chief Executive Officer of Respironics. "The combination of Respironics and Philips will allow us to continue to provide exceptional products and services to our customers and allow Respironics to expand its leadership in the global sleep and respiratory markets. Philips is the right partner to create additional growth opportunities for our company, and we believe that our organization will benefit significantly by being part of a larger, growing and dynamic organization. We look forward to working with the Philips team to ensure an effective and seamless transition."

"A core part of Philips' healthcare strategy is to achieve a leading position in the high growth sector of home healthcare," Steve Rusckowski, Chief Executive Officer of Philips Healthcare and member of the Board of Management of Philips Electronics, said. "This acquisition, with its significant strategic and financial benefits to Philips Healthcare, is another important step in carrying out this strategy." Upon completion of this acquisition, Respironics will beco
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