Canon agrees to buy Toshiba's medical equipment unit
17-Mar-16, Investing.com
Canon Inc has agreed to buy Toshiba Corp's medical equipment unit for 665.5 billion yen, the companies said.
%20Reuters.jpg "Canon agrees to buy Toshiba's medical equipment unit (c) Reuters")
Image: Reuters
Toshiba, which is selling the unit to help fund restructuring after a massive accounting scandal, said the deal would yield a profit of about 590 billion yen in the current fiscal year if it closes in time.
Canon, which makes X-ray machines and eye examination devices, has been trying for years to expand into high-margin medical devices, particularly as demand for cameras has declined with the advent of smartphones.