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Fujifilm confirms ¥179B deal for Hitachi's diagnostic imaging unit

FUJIFILM Holdings Corp. subsidiary Fujifilm Corp. agreed to acquire Hitachi Ltd.'s diagnostic imaging-related unit to expand its healthcare business for an estimated ¥179 billion, confirming media reports from a day earlier.

The deal is expected to complete in July 2020, subject to customary closing conditions and regulatory approvals.

With the deal, Fujifilm hopes to enhance its capability to offer a range of solutions to medical institutions, including MRI diagnostics imaging, medical IT, in-vitro diagnostics and endoscopy. In addition, Fujifilm plans to create a new business that can generate synergies between its medical systems business and other businesses in the healthcare segment.

Fujifilm said there will also be cross-selling opportunities and that it will be able to expand into new areas, including AI-supported diagnosis and AI-supported maintenance.

The purchase price is subject to the target business' level of cash, net debt and working capital at the timing of closing.

As of Dec. 17, US$1 was equivalent to ¥109.53.