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Philips has a tooth for lifestyle and healthcare business

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Philips Electronics India (PEIL) is said to be eyeing the lifestyle and healthcare segments. The company is said to have amassed approximately Rs 697 crore of reserves to fund its acquisition ambitions.

At the 77th AGM of the company, PEIL’s chairman, S.M.Datta said that the company has created a war chest to fuel acquisitions. MD and vice-chairman of the company, Mr. K. Ramachandran, said that the company has a new plan in place to develop its business, and in pursuance of this plan the company will venture in lifestyle and healthcare segments through acquisitions.

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