News | October 04, 2007

Philips to Acquire Raytel Cardiac Services

October 5, 2007 — Royal Philips Electronics recently announced Philips will acquire US-based Raytel Cardiac Services and other ancillary operations from SHL Telemedicine Ltd., for approximately $110 million reportedly taking a further step in Philips’ healthcare strategy of improving patient outcomes in specific care cycles, such as cardiology.

Subject to receipt of regulatory approval, the transaction is expected to close in the fourth quarter of 2007, upon which Raytel will become part of Philips’ Home Healthcare Solutions business group. Raytel Cardiac Services is a US provider of home cardiac monitoring services that doctors prescribe to heart patients. Raytel Cardiac Services employs cardiac technicians working at monitoring centers, where they analyze patient data and provide real-time patient information to prescribing physicians.

For more information: www.medical.philips.com

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