AMSTERDAM, The Netherlands & MELBOURNE, Fla.--(BUSINESS WIRE)--March 8, 2006--Royal Philips Electronics (NYSE:PHG, AEX:PHI) and Witt Biomedical Corporation today announced Philips will acquire Witt Biomedical Corporation, the largest independent supplier of hemodynamic monitoring and clinical reporting systems used in cardiology catheterization laboratories (Cath Labs). Subject to receipt of regulatory approval, Philips will acquire Witt Biomedical for approximately USD 165 million. The transaction is expected to close in the second quarter of 2006.
