Two companies, two strategic plans. That’s what brought Canon Inc. (NYSE: CAJ) together with Toshiba Corp. (OTCQB: TOSYY) in a deal to acquire Toshiba’s medical device business. Toshiba, which makes laptops, home appliances, nuclear power equipment and more, somehow deemed Toshiba Medical Systems as a non-core asset and decided to sell.
For its part, Canon decided earlier this year to diversify beyond cameras and copiers. Canon will pay approximately $5.9 billion for Toshiba Medical Systems, which includes diagnostic imaging systems such as MRI, X-ray and ultrasound equipment.