Philips (NYSE:PHG, AEX: PHI) Israel subsidiary Philips Medical Systems has acquired Medtechnica (TASE: MEDI ) unit CDP Medical Ltd, which develops, produces and markets picture archiving and communications systems (PACS) for X-ray and imaging equipment.

When the deal is complete, Medtechnica will record a capital gain of NIS 24 million and Philips will pay Medtechnica €3 million in October 2012 if certain conditions are met. Medtechnica holds a 60% stake in CDP.

Based in Petah Tikva, CDP was founded a decade ago and has 20 employees today. Its systems are used in 300 hospitals, medical centers and clinics worldwide.

Published by Globes, Israel business news - www.globes-online.com - on August 2, 2010

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