Philips 2010 Annual Report Download - page 64

5 Group performance 5.1.10 - 5.1.11
64 Annual Report 2010
In 2009, acquisitions led to integration and purchase-
accounting charges totaling EUR 101 million: Healthcare
EUR 63 million, Consumer Lifestyle EUR 16 million, and
Lighting EUR 22 million.
For further information, refer to note 6.
Acquisitions
Within Healthcare, we completed six acquisitions to
expand our global presence, particularly in emerging
markets: Somnolyzer, Tecso Informatica, Shanghai Apex
Electronics, CDP Medical, Wheb Sistemas, and medSage
Technologies.
Tecso Informatica in Brazil was our first acquisition in
healthcare informatics in an emerging market. This
acquisition was complemented by our subsequent
acquisition of Wheb Sistemas in Brazil. These acquisitions
position us to be one of the leading clinical informatics
companies in Brazil, further strengthening our offering
toward high-growth markets. In China, we purchased
Shanghai Apex Electronics, a leading manufacturer of
ultrasound transducers, strengthening our portfolio of
high-quality transducers aimed specifically towards
emerging markets.
Within mature markets in Healthcare, we acquired Israel-
based CDP Medical, a provider of Picture Archiving and
Communication Systems (PACS) and in Austria we
acquired Somnolyzer, an automated scoring solutions
business which will help improve the productivity of sleep
centers. Our final acquisition of 2010 was medSage
Technologies, a US-based provider of patient interaction
and management applications, which will allow Philips to
offer a web-based solution to aid home care providers.
Within Consumer Lifestyle, Philips acquired Discus
Holdings, the leading manufacturer of professional tooth
whitening products, complementing our oral healthcare
portfolio and further building our relationship with
professional dentists.
Within Lighting, Philips completed four acquisitions. In
Italy, we acquired Luceplan SpA, a leading consumer
luminaires company in the lighting design segment in
Europe. In Norway, we acquired Burton Medical
Products, provider of specialized lighting solutions for
healthcare facilities. In Denmark, we acquired Street
Controls from Amplex A/S, an energy-efficient solutions
provider. Additionally, in Hong Kong, we acquired NCW
Holdings, a leading designer, manufacturer and distributor
of LED and conventional entertainment lighting and
lighting control solutions for global markets.
Acquisitions in 2009
In 2009 we completed eight acquisitions. Healthcare
acquisitions included Meditronics, Traxtal, and InnerCool.
Within Lighting, Philips completed the acquisition of four
companies: Dynalite, Teletrol Systems, Ilti Luce, and
Selecon. Within Consumer Lifestyle, Philips acquired
Saeco International.
Divestments
In 2010, Philips divested 9.4% of the shares in TPV
Technology Ltd (TPV). The TPV shares were sold to CEIC
Lrd, a Hong Kong-based technology company, for a cash
consideration of EUR 98 million.
Divestments in 2009
In 2009, Philips continued to transform the Television
business from one based on scale to one based on
innovation and differentiation by transferring the IT
Displays business to TPV Technology Limited in a brand
licensing agreement. Within Healthcare, Philips sold its
shares in FIMI to Barco NV, in line with its strategy to
divest non-core activities and focus on expanding its
growth platforms.
For details, please refer to note 6.
5.1.11 Performance by market cluster
In 2010, sales grew 4% on a comparable basis, driven by
growth in all sectors, notably in emerging markets.
Comparable sales growth by market cluster1)
as a % ■-Philips Group--■-emerging markets--■-mature markets
15
7.5
0
(7.5)
(15)
(2.7)
3.5
(5.4)
2008
(11.4) (10.8) (11.7)
2009
4.3
11.9
0.9
2010
1) For a reconciliation to the most directly comparable GAAP measures, see
chapter 16, Reconciliation of non-GAAP information, of this Annual Report
Sales in mature markets were EUR 824 million higher than
in 2009, or 1% higher on a comparable basis. Sales in
Western Europe were below the 2009, mainly due to
lower sales at Consumer Lifestyle, which more than offset
growth at Healthcare. Sales in North America were
slightly higher than in 2009, attributable to low single-digit
growth in Lighting and Consumer Lifestyle. Healthcare