Hitachi Acquires Turkish Kurt & Kurt to Further Strengthen the Healthcare Business

Dec 09, 2016 11:13 JST

Source: Hitachi, Ltd.

- Turkey will be positioned as the fifth strategic center for the global operations of Hitachi in healthcare business -

TOKYO, Dec 09, 2016 - (JCN Newswire) - Hitachi, Ltd. announced today that it has entered into an agreement to acquire 75% shares of Kurt ve Kurt Ithalat Ihracat ve Mumessillik Anonim Sirketi ("Kurt & Kurt") and making it a consolidated subsidiary of Hitachi on April 1, 2017. Through the acquisition, Hitachi will gain the healthcare business platform which would help further expand its global business and provide the total solution by strengthening operation services for hospital imaging centers and so on.

Hitachi's Healthcare Business, one of the four major focuses in the Social Innovation business, provides diagnostic and clinical solutions aimed at achieving better and more efficient qualities in medical field. These solutions range from diagnostic/clinical systems such as particle therapy system to informatics including IT services and Integrated community care system. Hitachi is targeting at over 55% of overseas revenues in the fiscal year of 2018 in the 2018 Mid-term Management Plan. Currently, Hitachi's Healthcare products and services are delivered at four strategic regions including Americas, Europe, China and Asia. Hitachi works on further expanding its global business by expanding market channels and increasing the value-added solutions.

Turkey has maintained 4%(1) of high economic growth supported by abundant human resources of mainly younger generation. There are many large investments in healthcare sectors such as hospital construction being planned. Hitachi expands sales channels of diagnostic systems to provide solutions including operation services for hospital imaging centers in Turkey, Central Asia and Middle East & Africa by taking advantage of Kurt & Kurt's business base. Moreover, Hitachi promotes globalizing the solution business by providing Hitachi's superior surgical treatment solutions and radiation therapy systems in total.

Kurt & Kurt, established in 1977 in Turkey, has been delivering a wide range of products including Hitachi's diagnostic systems to customers in mainly Turkey and Central Asia for over 30 years. Kurt & Kurt also provides operation services for hospital imaging centers. The quality of the services based on their ample experience and track record has been highly appreciated by customers.

Masaya Watanabe, Vice President and Executive Officer, CEO of Hitachi's Healthcare Business Unit, stated, "Turkey is positioned in the strategically and geographically important location to Europe, Middle East and Central Asia. After 33 years of successful partnership contributing to Turkey's Healthcare development, we recently have been providing not only our diagnostic systems, but also a various kinds of solutions to the medical facilities. Through this acquisition, we will further strengthen our partnership and collaborate together to deliver state of the art solutions. I envision that our works would contribute to the healthcare development and improve the quality of life in the region."

Murat Balkan, Chairman and CEO of Kurt & Kurt stated "Our long-term collaboration with Hitachi enabled us to achieve significant milestones in the establishment of Turkey's radiology experience. We are happy to witness continued confidence of Hitachi contributing to the Turkey's promising future."

The new subsidiary in Turkey will be positioned as the fifth strategic center for the global operations in healthcare business. Hitachi will expand the healthcare business with a total solutions utilizing digital technology to respond to all kinds of customer needs.

(1) Data of the fiscal 2015 announced by Turkish Statistical Institute.

About Kurt ve Kurt Ithalat Ihracat ve Mumessillik Anonim Sirketi (Kurt & Kurt)

Kurt & Kurt, headquartered in Ankara, Ankara Province, Republic of Turkey, is a leading provider of medical diagnostic systems and solutions in Turkey and Central Asia. Kurt & Kurt's sales involve Ultrasound System, MRI, CT, Endoscope, PACS and medical solutions for hospital imaging centers. For more information on the company and its products, please visit its website at http://www.kurt.com.tr/EN/.

Contact:

Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111

Source: Hitachi, Ltd.
Sectors: Healthcare & Pharm

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