Philips Electronics India today announced the acquisition of Mumbai-based X-ray machines manufacturer Meditronics for an undisclosed amount. “The acquisition underlines our decision to step up investment in high-growth areas while also delivering on our commitment to supply affordable healthcare solutions in emerging markets,” CEO of parent company Royal Philips Electronics, Mr Gerard Kleisterlee told reporters here. However, he declined to give financial details of the deal like, how much the company paid or what the turnover of Meditronics was in the last financial year.   more »

Sugar and nutraceuticals major EID Parry (India) Ltd, part of the Murugappa group, has acquired 48% stake in the Florida-based US Nutraceuticals, LLC, a privately-held company, for a consideration of $9 million. The US company is engaged in the nutraceuticals business under the name of Valensa International and its turnover is estimated to be around $8 million to $9 million. The deal makes EID Parry will become the major shareholder of the company, said D Kumaraswamy, President (Bio, Nutraceuticals & Corporate Affairs), EID Parry.   more »

Dabur India on Friday acquired a 72.15% stake in Fem Care Pharma for Rs 203.7 crore in an all-cash deal in its bid to aggressively enter the skincare market in the country. It will make an open offer for an additional 20% stake in Fem Care as required under takeover regulations. “We will fund the entire acquisition from internal accruals … we have around Rs 250 crore of cash,” Sunil Duggal, chief executive officer, Dabur India, told DNA Money, adding the transaction would be accretive to the balance sheet next fiscal onwards.   more »