Respironics now part of Philips Healthcare

By Lisa Kerner

Charlotte, N.C., March 13 - Royal Philips Electronics NV completed its acquisition of Respironics, Inc. through the merger of its indirect wholly owned subsidiary with and into Respironics.

Respironics is now an indirect wholly owned subsidiary of Philips within Philips Healthcare and its stock will be delisted from the Nasdaq, according to a company news release.

Philips completed its $66-per-share tender offer for the company on Thursday.

In December, Respironics agreed to be acquired by Philips Electronics for some $5.1 billion.

In addition to Respironics, Philips Healthcare has recently acquired Visicu Inc. and Emergin, Inc.

Based in Murrysville, Pa., Respironics manufactures and distributes products and programs for the sleep and respiratory markets.

Philips Electronics is an Amsterdam-based company with products and services for the health care, lighting and consumer lifestyle markets.

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