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Neusoft Medical Signed Transfer Agreement with Philips to Acquire 25% Equities in Philips-Neusoft Medical Systems Joint Venture
Date:7/7/2013

and the original joint venture to use its background intellectual property rights within the current scope. Meanwhile, Philips promised to purchase ultrasonic products from the original joint venture on an exclusive basis, and further pledged to order CT products with a total value of no less than RMB 405 million Yuan within the following two years post transaction. In addition, Philips, the original joint venture and other related parties will continue to mutually supply medical equipment components, provide customer services and support, to meet the requirements of respective business development.

According to the announcement, the joint venture had fulfilled its mission over the past years, as evidenced by a large number of competitive products and intellectual property rights. The successful performance of PNMS has built solid foundation for both sides to further optimize their respective global deployment and improve their competitiveness. With this transaction, Neusoft and Philips will be able to develop new products based on their previous achievements in a more flexible manner in line with their respective strategies, which will further support their long-term strategic targets and plans and better help them cope with new opportunities and challenges in the global market.

It is reported that the transaction is estimated to take place before December 31st, 2013 or another date agreed upon by both sides. After the completion of the transaction, PNMS will be renamed and it will no longer use "Philips" in its name.

About Neusoft Corporation

Neusoft is the leading IT solution and service provider in China with operations across the globe. Focusing on software technology, Neusoft provides industry solutions, product engineering solutions and related software products & platform, and services. With more than 23,000 employees around the world, Neusoft has a comprehensive marketing and service netwo
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