Toshiba has granted exclusive negotiation rights to Canon to acquire its medical equipment unit as the Japanese firm restructures its operations following an accounting scandal.
The proposal from Canon is superior to other companies and the exclusive rights will last until 18 March as the parties work toward reaching a final agreement
Toshiba said it has undertaken a close evaluation of the overall proposals received from companies that expressed an interest in acquiring Toshiba Medical Systems Corporation (TMSC).
The company has also evaluated their appraisal of TMSC’s value and the feasibility of successfully completing the transaction.
Toshiba and Canon declined to comment on the value of the deal.
Toshiba Medical Systems is engaged in developing and marketing medical equipment, including diagnostic X-ray systems, medical X-ray CT systems and magnetic resonance imaging systems.
The company also produces diagnostic ultrasound systems, radiation therapy systems, diagnostic nuclear medicine systems, medical sample testing equipment, and information systems for medical equipment.
Image: Toshiba to enter exclusive talks with Canon on medical business sale. Photo: courtesy of adamr / FreeDigitalPhotos.net.