Philips completes takeover of Respironics

17 March 2008

Royal Philips Electronics (NYSE:PHG, AEX:PHI) has announced that it has completed the acquisition of Respironics (NASDAQ:RESP), which will now become an indirect wholly owned subsidiary of Philips.

This follows the completion of the tender offer last Friday (14 March, see article: Philips announces completion of tender offer to acquire Respironics). Respironics will become the headquarters of Philips' Home Healthcare business.

Respironics has now taken moves to be delisted from NASDAQ and as of March 10, 2008, Respironics' financial results will be accounted for in the financial results of Philips Healthcare.

Philips has also announced the expected financial effects of this and its other recent healthcare takeovers, of clinical IT companies VISICU Inc. and Emergin, Inc.

Philips says it provisionally anticipates acquisition and integration charges related to the Respironics, Visicu and Emergin acquisitions of approximately €200 million for 2008, of which approximately €100 million is expected to impact Philips’ 2008 EBITA.

Philips expects to book approximately €40 million of the acquisition and integration charges in the first quarter of 2008, of which approximately €25 million will impact Philips’ first quarter 2008 EBITA.

Your browser does not support inline frames or is currently configured not to display inline frames.	Your browser does not support inline frames or is currently configured not to display inline frames. Philips completes takeover of Respironics 17 March 2008 Royal Philips Electronics (NYSE:PHG, AEX:PHI) has announced that it has completed the acquisition of Respironics (NASDAQ:RESP), which will now become an indirect wholly owned subsidiary of Philips. This follows the completion of the tender offer last Friday (14 March, see article: Philips announces completion of tender offer to acquire Respironics). Respironics will become the headquarters of Philips' Home Healthcare business. Respironics has now taken moves to be delisted from NASDAQ and as of March 10, 2008, Respironics' financial results will be accounted for in the financial results of Philips Healthcare. Philips has also announced the expected financial effects of this and its other recent healthcare takeovers, of clinical IT companies VISICU Inc. and Emergin, Inc. Philips says it provisionally anticipates acquisition and integration charges related to the Respironics, Visicu and Emergin acquisitions of approximately €200 million for 2008, of which approximately €100 million is expected to impact Philips’ 2008 EBITA. Philips expects to book approximately €40 million of the acquisition and integration charges in the first quarter of 2008, of which approximately €25 million will impact Philips’ first quarter 2008 EBITA. Your browser does not support inline frames or is currently configured not to display inline frames. To top	Your browser does not support inline frames or is currently configured not to display inline frames.