Dutch technology company Royal Philips NV is exploring acquisition opportunities in the health-tech and personal healthcare sectors in India.
The company aims to clinch at least one deal over the next one year, Mint reported citing Philips India vice chairman and managing director Raja Venkataraman.
“I would like to target [a] space where I want to be where I am not present now. It could also be technology that is available readymade, or a great product that the current owner could not scale up,†said Venkataraman, who joined Philips India in December 2015 to spearhead the firm’s healthcare and consumer lifestyle businesses.
Speaking about the war chest set aside for acquisitions in India, he said that money was not an issue. “Starting from $5 million to $100 million, or more, if that is of right value,†he said.
Philips was founded in 1891. It has three business lines—healthcare, consumer and lighting—and employs around 113,000 people across the world.
Philips, once a listed company in India, is the largest lighting products firm in the country. It is also one of the top players in the highly fragmented consumer appliances market and one of the top firms along with GE and Siemens in the medical devices segment.
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