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

est 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
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