Navigation Links
Neusoft Medical intends to acquire equities in Philips-Neusoft Medical Systems joint venture from Philips
Date:2/5/2013

SHENYANG, China, Feb. 5, 2013 /PRNewswire/ -- Neusoft Corporation ("Neusoft", SSE:600718) announced today that it has signed a Term Sheet with Philips on the proposed transaction of shares and assets in Philips and Neusoft Medical Systems Co., Ltd. ("PNMS"). According to the Term Sheet, Neusoft's wholly-owned subsidiary Neusoft Medical System Co., Ltd. ("Neusoft Medical") and its overseas associates intend to acquire 51% equities in PNMS held by Philips. Upon the completion of the proposed transaction, all intellectual property rights of PNMS will be shared by both Neusoft and Philips. In addition, a team of approximately 100 to 150 Computed Tomography (CT) system and component engineers and supporting staff will transfer from the joint venture to Philips.

According to Neusoft, 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 a 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 to help them cope better with new opportunities and challenges in the global market.

PNMS was jointly established by Neusoft Medical and Philips in 2004 with a registered capital of USD 29.6 million. Philips and Neusoft Medical held 51% and 49% equities respectively. PNMS is specialized in R&D and production of medical systems such as CT scanners, MRI, ultrasound and X-ray equipments that are branded with Neusoft and Philips respectively and put into the market through their respective marketing networks for global markets. Based on Neusoft Medical and Philips' best practices in medical systems, PNMS has been committed to technology innovation and development of new products, achieving many technical breakthroughs and patents. Its product portfolio includes 4 categories, 10 series and 20 models, with 17 FDA certificates and 17 CE certificates. These products are widely used in approximately 70 countries and regions around the world. Over the past years since its establishment, PNMS has provided premium products for Neusoft to expand global market, and enriched Philips' product portfolio, making great contribution to promoting Neusoft and Philips' competitiveness in the global arena.

According to the announcement, after the completion of the proposed transaction, Neusoft Medical will become the holding company of the original joint venture and its operations will be maintained. In addition, the knowledge assets obtained by PNMS over the past years will be shared by Philips and Neusoft Medical by means of co-ownership and license, to meet the requirements of respective business development. Neusoft Medical and the original joint venture will continue their businesses in R&D, production and sales of medical systems, such as CT scanners, MRI, x-ray apparatus, ultrasonic diagnosis apparatus and more. Besides, Philips and Neusoft Medical will maintain a partnership in the form of components supply and the original equipment manufacturer (OEM) supply of systems.

"The successful partnership between Neusoft and Philips during the past years has brought both sides to a new height in global market expansion," Dr. Liu Jiren, Chairman and CEO of Neusoft Corporation, commented. "With the ever-changing market environment and business transformation, we have to think about how to adapt to such changes to align with our long-term strategy and growth. This transaction will provide each side with more flexibility and momentum for innovation in the aspects of product positioning and marketing strategies by fully sharing the achievements of the original joint venture. In the future, Neusoft will stick to an active product strategy to enrich product lines, including CT products, to further accelerate our expansion in the global market, especially in those fast-growing emerging markets."

It is reported that Neusoft and Philips will hold further negotiations on the proposed transaction and the signing of the definitive agreements and subsequent closing is estimated to take place before the end of 2013.

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 20,000 employees around the world, Neusoft has a comprehensive marketing and service network in more than 40 cities across China, as well as subsidiaries in the U.S., Europe, Japan and the Middle East. The Company is the first listed software company in China and is traded on the Shanghai Stock Exchange. For more information, please visit: http://www.neusoft.com.

About Neusoft Medical

Neusoft Medical is based in Shenyang, China. As a wholly-owned subsidiary of Neusoft Corporation, Neusoft Medical has become the premier developer and manufacturer of advanced medical equipment in China. Combining strength in R&D, software development and system integration with collaboration with top medical institutes and academic institutions, Neusoft Medical has released more than 20 new products since its founding in 1998 and installed thousands of medical systems worldwide. To learn more, please visit: http://medical.neusoft.com/en/

For more information, please contact:

Evelyn Tang
Branding & Marketing Management Center
Neusoft Corporation
Phone: +86-24-8366-5663
Email: tangyi@neusoft.com


'/>"/>
SOURCE Neusoft Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Der NeuViz 64 Multi-Slice-CT-Scanner von Neusoft Medical Systems erhält FDA-Genehmigung
2. The NeuViz 64 Multi-slice CT Scanner from Neusoft Medical Systems Receives FDA Clearance
3. Neusoft Medical Systems, USA Announces Alignment with Landauer Medical Physics
4. Landauer Medical Physics Announces Alignment With Neusoft Medical Systems, USA
5. Neusoft Positron Medical Systems Receives ISO Certification and CE Mark for their Attrius PET System
6. Neusoft Medical Launches NeuViz 64 Multi-slice CT Scanner at CMEF Spring 2012
7. Solta Medical to Report Fourth Quarter 2012 Results Release and Host Conference Call on February 19, 2013
8. Matinas BioPharma to Present at the NYC Medical Technology Forum on February 5, 2013
9. Medical Care Technologies Inc. Announces Financing Approval For Medical Equipment
10. H. D. Smith Specialty Solutions Appoints 20-year Industry Veteran Tim Booth To Executive Vice President, Smith Medical Partners
11. KAHR Medical Granted U.S. Patent Approval for One of its Lead Products in Development, KAHR-101
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... , Dec. 2, 2016  Maxor National Pharmacy Services, ... of Pharmaceutical Specialties, Inc. ("PSI").  The combination of ... Georgia -based PSI bring together both company,s clinical ... manufacturers, and payers an industry-leading specialty pharmacy. About ... , , ...
(Date:12/2/2016)... 2, 2016 Lianluo Smart Limited (Nasdaq: ... Company") which develops, markets and sells medical devices ... China and international markets, recently attended ... Treatment New Progress Forum, co-hosted by the Institute ... , Guangdong Provincial People,s Hospital and Cardiology ...
(Date:12/2/2016)... Dec. 1, 2016 The concept of rare diseases ... given to this sector has been taking shape in ... the political aspects and initiatives related to orphan medicinal products ... the level of member states individually. Many member states in ... the space of orphan medicinal products, the result of which ...
Breaking Medicine Technology:
(Date:12/2/2016)... Portland, Maine (PRWEB) , ... December 02, 2016 , ... ... support group for caregivers of those affected by autism spectrum disorder (ASD) and other ... and Easter Seals Maine, will give parents and other caregivers the opportunity to share ...
(Date:12/2/2016)... ... December 02, 2016 , ... U.S. Surgeon General, Dr. Vivek Murthy, ... Murthy explains how he was inspired to practice medicine at an early age by ... about more than making diagnoses and prescribing medicine,” he states. “It is about building ...
(Date:12/2/2016)... ... December 02, 2016 , ... Mediaplanet’s newest campaign, “Digestive Heath,” ... living proof that attitude and determination can combine into the most remarkable achievements. ... the holidays. This campaign will offer patients a new-found hope, by seizing the ...
(Date:12/2/2016)... (PRWEB) , ... December 02, 2016 , ... More than ... and while 84 percent of parents report speaking with their child about sex related ... sexually transmitted diseases. , Mediaplanet is proud to announce the launch of its second ...
(Date:12/2/2016)... ... December 02, 2016 , ... ... of its SaaS LIMS, CloudLIMS Lite. CloudLIMS Lite helps biobanks, clinical, research and ... storing, shipping and disposal. The new version is a faster and a more ...
Breaking Medicine News(10 mins):