News | Radiology Imaging | December 28, 2015 | Dave Fornell

Toshiba May Sell its Healthcare Division as Part of its Financial Reforms

Scandal following its announcement of intentionally posting false financial reports results in job cuts and putting its healthcare division up for sale

Toshiba May Sell its Healthcare Division as Part of its Financial Reforms

December 28, 2015 — Toshiba announced Dec. 21 it is considering selling off its healthcare division as part of its restructuring plans in the aftermath of its falsified financial reporting scandal from earlier this year. 

In February 2015, Toshiba revealed it had manipulated its financial figures for the past seven years to improve the image of its bottom line following the global economic downturn starting in 2008. In September Toshiba submitted amended financial reports from 2015 back to April 2009 to correct the misinformation on the previous reports. 

The Japanese Securities and Exchange Surveillance Commission imposed a penalty of 7.3 billion Yen (more than $60 million in U.S. dollars) due to the false financial statements. Toshiba also created an independent auditing group to investigate the financials, leading to the resignation of five members of the company’s Board of Directors.

The revelation of the false reporting statements has shown Toshiba to be in the red with some of its businesses. Its recent financial reports showed stagnation in its home appliance business, part of its lifestyles product and services divisions that include TVs and personal computers.  The division posted big revenue declines in 2015. 

During the Dec. 21 press conference, the company explained how it would revitalize itself in 2016. Beyond implementing financial reforms in its reporting, this includes cutting 10,600 jobs, mostly from its lifestyles and semiconductor divisions and from its corporate staff.  The company also prioritized selling shares of its healthcare segment to outside investors. The company said while the business has been profitable, it needs additional research and development, and management resources to continue its expansion.  The company said much of the R&D in this segment has been in creating next generation computed tomography (CT) systems

It is refocusing efforts in the energy and information storage divisions and is inviting outside majority shareholders in the healthcare business to secure management resources necessary for further growth. 

In its December financial report, Toshiba said its healthcare segment net sales grew to a total of $3.4 billion. The division's products include imaging systems for CT, MRI, PET-CT, angiography, digital X-ray, ultrasound and advanced visualization software.

Related Content

This data represents wave 2 of a QuickPoLL survey conducted in partnership with an imagePRO panel created by The MarkeTech Group (TMTG), regarding the effects of COVID-19 on their business

Getty Images

Feature | Coronavirus (COVID-19) | July 01, 2020 | By Melinda Taschetta-Millane
A 3-D ultrasound system provides an effective, noninvasive way to estimate blood flow that retains its accuracy across different equipment, operators and facilities, according to a study published in the journal Radiology.

Volume flow as a function of color flow gain (at a single testing site). For each row the color flow c-plane and the computed volume flow are shown as a function of color flow gain. The c-plane is shown for four representative gain levels, whereas the computed volume flow is shown for 12–17 steps across the available gain settings. Flow was computed with (solid circles on the graphs) and without (hollow circles on the graphs) partial volume correction. Partial volume correction accounts for pixels that are only partially inside the lumen. Therefore, high gain (ie, blooming) does not result in overestimation of flow. Systems 1 and 2 converge to true flow after the lumen is filled with color pixel. System 3 is nearly constant regarding gain and underestimates the flow by approximately 17%. Shown are mean flow estimated from 20 volumes, and the error bars show standard deviation. Image courtesy of the journal Radiology

News | Ultrasound Imaging | July 01, 2020
July 1, 2020 — A 3-D ultrasound
Imaging Artificial Intelligence (AI) provider Qure.ai announced its first US FDA 510(k) clearance for its head CT scan product qER. The US Food and Drug Administration's decision covers four critical abnormalities identified by Qure.ai's emergency room product.
News | Artificial Intelligence | June 30, 2020
June 30, 2020 — Imaging Artificial Intelligence (AI) provider Qure.ai announced its first US FDA 510(k) clearance for
In new QuickPoLL survey on imaging during the pandemic, responses were tallied from around 170 radiology administrators and business managers, who are part of an imagePRO panel created by The MarkeTech Group (TMTG), regarding the effects of COVID-19 on their business. TMTG is a research firm specializing in the medical device, healthcare and pharmaceutical industries.
Feature | Coronavirus (COVID-19) | June 30, 2020 | By Melinda Taschetta-Millane
Thoracic findings in a 15-year-old girl with Multisystem Inflammatory Syndrome in Children (MIS-C). (a) Chest radiograph on admission shows mild perihilar bronchial wall cuffing. (b) Chest radiograph on the third day of admission demonstrates extensive airspace opacification with a mid and lower zone predominance. (c, d) Contrast-enhanced axial CT chest of the thorax at day 3 shows areas of ground-glass opacification (GGO) and dense airspace consolidation with air bronchograms. (c) This conformed to a mosai

Thoracic findings in a 15-year-old girl with Multisystem Inflammatory Syndrome in Children (MIS-C). (a) Chest radiograph on admission shows mild perihilar bronchial wall cuffing. (b) Chest radiograph on the third day of admission demonstrates extensive airspace opacification with a mid and lower zone predominance. (c, d) Contrast-enhanced axial CT chest of the thorax at day 3 shows areas of ground-glass opacification (GGO) and dense airspace consolidation with air bronchograms. (c) This conformed to a mosaic pattern with a bronchocentric distribution to the GGO (white arrow, d) involving both central and peripheral lung parenchyma with pleural effusions (black small arrow, d). image courtesy of Radiological Society of North America

News | Coronavirus (COVID-19) | June 26, 2020
June 26, 2020 — In recent weeks, a multisystem hyperinflammatory condition has emerged in children in association wit
he FDA launched the first “FDA Insight” podcast, featuring FDA Commissioner Stephen Hahn, M.D., and FDA Deputy Commissioner for Medical and Scientific Affairs Anand Shah, M.D., discussing FDA's COVID-19 efforts, including the drug development process for a COVID-19 treatment.

Getty Images

News | Coronavirus (COVID-19) | June 25, 2020
June 25, 2020 — The FDA launched the first “...