Royal Philips Electronics announced it has reached an agreement to acquire India-based Alpha X-Ray Technologies. Alpha is a leading manufacturer of Cardiovascular X-Ray systems targeting the economy segment of the Indian market. Upon closing of this transaction in the fourth quarter of 2008, which is subject to certain contractual and other conditions such as regulatory approvals, Alpha will become part of the Cardiovascular X-Ray business within Philips' Healthcare sector. Financial details of this agreement were not disclosed. Alpha's high-quality and clinically proven economy segment product portfolio complements Philips' existing high-end Cardiovascular X-Ray range and helps Philips to capture an even larger slice of the global EUR 1.8 billion Cardiovascular X-Ray market. Analysts estimate that the economy segment is the fastest growing segment of the global Cardiovascular X-Ray market, with anticipated annual growth rates of 10% to 15% in coming years. Philips will leverage its global distribution network to sell Alpha's Cardiovascular X-Ray products thus maximizing the value of the acquisition and adding another growth engine to Philips Healthcare's emerging markets business.

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