Canon has entered an agreement to buy Toshiba's medical equipment unit for $5.9 billion in a move to diversify the camera maker's current portfolio, reports USA Today.
Toshiba's medical unit makes diagnostic imaging systems such as MRI, X-ray and ultrasound equipment. Canon said in a statement that its acquisition of Toshiba Medical Systems Corp. as a 100 percent-owned subsidiary would aid its ambition to expand its medical equipment business, according to the article.Canon currently produces radiography and opthalmic equipment for the healthcare market.
The agreement comes days after Fujifilm Holdings, another company that had expressed interest in the transaction, questioned Toshiba about its selling practices, according to Bloomberg.
Toshiba is currently facing accusations company officials have been doctoring accounting books for years after setting unrealistic earning targets.
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