March 18, 2016 - Canon Inc. agreed to buy Toshiba Corp.'s medical equipment unit for 665.5 billion yen ($5.9 billion) as the world's biggest maker of cameras positions itself for growth and Toshiba, which makes everything from nuclear power equipment to laptop computers, flash memory chips and home appliances, looks to revive profits by narrowing the scope of its business lines. 

The agreement comes a day after unsuccessful bidder Fujifilm Holdings Corp. questioned Toshiba about the sale. Canon is buying a business that makes diagnostic imaging systems such as MRI, X-ray and ultrasound equipment. It would also take the company into competition with General Electric Co., Royal Philips NV and Siemens AG for MRI machines that typically cost more than $100,000 each.

Figure 1. AQUILION ONE™: WORLD'S FIRST DYNAMIC VOLUME CT SYSTEM.

Canon is diversifying as smartphones with increasingly advanced cameras eat into its business. The company also makes printers, fax machines and projectors while its existing health-care business includes radiography and ophthalmic equipment.

Read the complete story at Toshiba Gets $5.9 Billion Deal to Sell Medical Unit to Canon.