Healthcare Industry News:  Royal Philips 

Devices Radiology Mergers & Acquisitions

 News Release - August 16, 2007

Philips to Acquire Healthcare Informatics Company XIMIS Inc. to Strengthen Presence in the Healthcare Information Technology Market

AMSTERDAM, Netherlands & EL PASO, Texas--(HSMN NewsFeed)--Royal Philips Electronics (NYSE:PHG, AEX:PHI) and XIMIS Inc. today announced that Philips will acquire XIMIS Inc., a provider of a next generation Radiology Information System (RIS).

The transaction is expected to close in the third quarter of 2007. No financial details on the transaction were disclosed. XIMIS will be incorporated into the Healthcare Informatics business group of Philips' Medical Systems division.

XIMIS has experience in the healthcare industry, with emphasis in radiology information systems. XIMIS' key product is XIRIS (Extended Internet Radiology Information System) which is an industry leading web-based RIS, scaling from community hospitals up to large, multiple facilities hospitals. XIRIS provides an international and multilingual solution. Healthcare institutions across Europe, North and South America are customers of XIMIS. Headquartered in El Paso, Texas, XIMIS employs approximately 50 people.

"XIMIS is a company with very talented people and unique technology that will strengthen our position in Healthcare Informatics and will enable us to provide an integrated RIS-PACS solution," said Oran Muduroglu, CEO of Philips Medical Systems' Healthcare Informatics business group.

XIRIS is designed to manage patient registration, scheduling, exam tracking, staff and resource management, and the generation of reports and statistical information, thereby reducing errors and streamlining the workflow at radiology facilities. Where XIRIS concentrates on workflow management at radiology facilities, Philips iSite PACS concentrates on image management and distribution. As such the XIRIS solution is complementary to the Philips iSite PACS offering and will further strengthen Philips' iSite PACS market position.

"Philips is strongly committed to the support of its current customer base and will work with them to take advantage of an integrated RIS-PACS solution," Oran Muduroglu added.

In commenting on the acquisition, Katitza Gerdau, founder and CEO of XIMIS Inc. said: "Philips is the right home for XIRIS since it has a high quality organization with a global, international scope. This acquisition will provide XIRIS a foundation for the future. The RIS-PACS solution of iSite and XIRIS will be amongst the strongest on the market today and will offer a powerful solution to clinics, doctors and to the patient. We are excited about this opportunity."

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of "sense and simplicity." Headquartered in the Netherlands, Philips employs approximately 125,800 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2006, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.

About XIMIS Inc.

Founded in 2000 in El Paso, TX, XIMIS Inc. designs and delivers innovative solutions that streamline healthcare facility workflow reducing time spent on practice management, administration and billing to maximize time spent on patient care. XIMIS employs approximately 50 people. XIMIS' solutions are used by many of hospitals, group centers and single diagnostic centers each day to facilitate their work and communication in a variety of practice settings. All XIMIS products are seamlessly integrated, use industry interface standards and backed by knowledgeable customer support experts. For more information, call +1 915.313.7400 or visit www.ximis.com.

Forward-looking statements

This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.


Source: Royal Philips Electronics

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