Siemens Acquires Assets of Ultrasound Manufacturer
Siemens Healthcare has entered into an agreement to acquire substantially all of the assets of Penrith Corporation of Plymouth Meeting, PA., a manufacturer of integrated ultrasound imaging systems. The deal is expected to close in September 2012. The deal will expand Siemens’ presence in the ultrasound market and is credited to Siemens Agenda 2013, a two-year global initiative to further strengthen the Healthcare sector through innovation and competitiveness. “Our portfolio and technology competence in the miniaturization of ultrasound devices will strengthen Siemens’ ability to develop pioneering technologies and future breakthrough innovations that advance and expand ultrasound’s role in medicine – specifically, innovations that are tailored to the needs and means of diverse markets,” said Michael G. Cannon, President, Penrith Corporation, who upon closing of the transaction will become Siemens Ultrasound’s Vice President and General Manager, Point-of-Care Solutions, in the press release.