Canon to Buy Toshiba Medical Systems

March 17, 2016—In separate press releases, Toshiba Corporation and Canon Inc. announced the sale of Toshiba Medical Systems Corporation (TMSC) to Canon. The transaction is valued at approximately $5.97 billion. On March 9, the companies announced they would conduct negotiations regarding the transaction.

According to Toshiba, the transaction was determinately completed so that TMSC is no longer a subsidiary of Toshiba. However, TMSC will only become a subsidiary of Canon when Canon receives clearance from the authorities regulating competition law in key countries. In the interim, MS Holding, an independent third party company, will hold all voting rights in TMSC.

In its announcement, Canon noted that the acquisition is part of a 5-year initiative launched in 2016 of a strategic transformation that includes reinforcing and expanding new businesses.

Canon stated that TMSC is one of the leading global companies in the medical equipment industry, particularly in the field of medical x-ray CT systems. TMSC’s product portfolio includes diagnostic x-ray systems, MRI systems, diagnostic ultrasound systems, and diagnostic nuclear medicine systems. The company also offers medical imaging solutions and in vitro diagnostics aimed at individualized care.

Canon possesses proprietary high-speed dynamic x-ray imaging sensor technology, among other imaging devices, along with associated elemental technologies, photoacoustic tomography technology, medical robotic system technologies, and minimally invasive technologies, advised the company.