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Medical imaging specialist Barco announced that it closed the acquisition of FIMI, a fully owned subsidiary of Royal Philips Electronics ' Healthcare business, on 31 December 2009.

FIMI is a profitable company with an annual sales volume of close to euro 40 million. The total transaction cost at closing was euro 19 million plus an additional earn-out of euro 10 million over the next five years.

FIMI, based in Saronno, Northern Italy, is a leading provider of dedicated modality monitors, patient monitoring and mobile point of care devices. By expanding its current display offering with these FIMI product lines, Barco can present the imaging industry with an even more complete display portfolio to address today's hospitals' wide-ranging visualization requirements. The acquisition of FIMI will open up new sales and business opportunities, which will enhance Barco's position in the medical display market in the years to come.

“Barco has been a leader and pioneer in the healthcare imaging market for almost twenty years. The acquisition of FIMI will reinforce this leading position in the years to come. It will allow us to further expand our footprint, while tapping into new market segments, such as mobile point of care devices. Moreover, it will also allow us to strengthen our relationship with Philips Healthcare as a very valuable global customer,” commented Eric Van Zele, Barco's President and CEO.

Source: Barco

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