Eizo acquires medical monitor business from Siemens A&D

Eizo Nanao Corporation, Ishikawa, Japan, and Siemens Automation and Drives (A&D), Nuremberg, Germany, announced they have entered into a definitive agreement that Eizo will acquire the Siemens’s medical monitor business. Eizo will take on around 130 employees and the operations in Karlsruhe, Germany, as well as related employees in the US, France and China. The A&D sales revenue of the business was €59 million in FY2006 (ending September 30). The transaction is subject to approval of the relevant authorities. The acquisition is to be completed in calendar year 2007.

Yoshitaka Jitsumori, President & CEO of the Eizo Nanao Corporation: “In our mid-term business plan, Eizo has committed to expand the medical monitor business extensively. This acquisition will drive that commitment.” Both Eizo and Siemens have long-standing experience in the monitor industry and also have their own state-of-the-art technology, know-how and an extensive customer base. Whereas A&D’s strength is in monitors for X-ray, tomography and mammography, Eizo is successful with monitors for PACS (Picture Archiving and Communication Systems) applications. With Eizo producing in Japan and Siemens in Germany, the acquisition creates the strong basis for boosting Eizo’s medical monitor business.

Dr. Helmuth Ludwig, Division President of the Systems Engineering Division (SE) at Siemens A&D: “In future, only suppliers with a coordinated and complete range of medical monitors will be able to show profitable growth in this segment. We part from the profitable medical monitor business as it does not belong to A&D’s core activities and will be more successful when linked up to a strong supplier in the long run.” Eizo has an excellent reputation in this industry sector and now offers, with the Siemens medical monitor portfolio, excellent joint growth opportunities under one roof.

About Eizo
Eizo Nanao Corporation is a leading global manufacturer of high-end visual display products with a wide range of LCD monitor systems. The image quality, long-term reliability, and innovative features of Eizo monitors make them the products of choice in many financial trading rooms, hospitals, back offices, and design studios. EIZO is based in Hakusan, Japan and represented in more than fifty countries by a network of exclusive distributors. www.eizo.com

About Siemens A&D
The Siemens Automation and Drives Group (A&D), Nuremberg, Germany, is the leading manufacturer in this field worldwide. Products supplied by A&D include standard products for the manufacturing and process industries and for the electrical installation industry as well as system solutions, for example for machine tools, and solutions for whole industries such as the automation of entire automobile factories or chemical plants. Supplementing this range of products and services, A&D also offers software for linking production and management (horizontal and vertical IT integration) and for optimizing production processes. A&D employs 70,600 people worldwide and in fiscal year 2006 (to September 30) earned a group profit of €1.572 billion on sales of €12.848 billion and orders of €14.108 billion, according to U.S. GAAP. www.siemens.com/automation