Neusoft Medical Systems Co. Ltd. is buying an additional 25 percent stake in Philips & Neusoft Medical Systems Co. Ltd., a joint venture.
Philips & Neusoft Medical is a JV between Neusoft Medical’s parent company, Neusoft Corp. and Royal Philips Electronics. The JV was formed in 2004 for research and development, production and sales of medical systems.
After the deal, Shenyang, China-based Neusoft Medical will hold a 74 percent stake in the JV. Terms of the deal were not disclosed.
Both Neusoft Medical and the JV make and sell products including CT scanners, MRI, x-ray and ultrasonic machines. Neusoft provides information technology services in China.
Royal Philips, headquartered in Amsterdam, develops televisions, toothbrushes, razors and health care-related technology.
The deal is expected to close before the end of the year.