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Hitachi Medical Corporation, headquartered in Tokyo, Japan, is a manufacturer of diagnostic imaging systems, including MRI, CT, PET, X-ray and ultrasound systems. The company also provides medical information systems and services. Hitachi is a 62.29%-owned subsidiary of the global electronics giant, Hitachi Ltd, where it is reported as part of the parent company's Infrastructure Systems Group business line. Prior to FY2011, Hitachi Medical was part of Hitachi Ltd's Electronic Systems and Equipment business line.
In December 2010, Hitachi Medical acquired the majority of the shares of Aloka, a Japanese manufacturer of diagnostic ultrasound and bone densitometry systems, radiation measuring and analysis systems and laboratory test systems. Hitachi previously owned a minority interest in Aloka. Aloka became a wholly-owned subsidiary of Hitachi Medical in March 2011 and on 1st April 2011, its name was changed to Hitachi Aloka Medical Ltd. With its international headquarters in Tokyo, Japan, Hitachi Aloka encompasses the ultrasound division of both Hitachi Medical and Aloka. The company has centralised its US business operations in Wallingford, CT, at the site of Aloka’s former US headquarters. As a result of the acquisition of Aloka, Hitachi Medical has taken its position as one of the world’s largest ultrasound companies.
Hitachi Medical sells its products in Japan, North America, Europe, Asia and other regions. In FY2011 (year ended 31st March 2012), the company reported revenue of US$166.2 billion, of which 60.5% of sales were generated in Japan. The company’s key competitors include GE Healthcare, Philips Healthcare, Siemens Healthcare, Dräger Medical and Toshiba.
This company report provides
Overview Key contact information Introduction to the company and its current activities Summary of its financial performance Who are the company’s major competitors? Key recent events in an “at a glance” format
Financial Review Current year and annual financial data, including revenue breakdowns by product area and geographic region (if available) Table providing in-depth five-year financial analysis Employee data, including breakdown by company division and geographic location
Strategic Focus Investigates the company’s aims and its areas of focus
Products Core product areas, key brands, product approvals and launches Research and Development How much has been invested in R&D? Where is the research based? What alliances and agreements does the company have and with whom?
Manufacturing and Distribution Identifying the company’s manufacturing locations Sales and marketing facilities
Agreements With whom has the company reached agreements and what do they involve? Key contracts awarded
Mergers, Acquisitions, Minority Investments and Divestments
Key Corporate Events
The report was produced as part of Medical Device Companies Analysis (MDCA).
Table Of Contents
Hitachi Medical Device Company Intelligence Report Contents
OVERVIEW 1 STRATEGIC FOCUS ..2 Enhance Profitability 2 Strengthen Overseas Manufacturing and Sales .2 Enhance Domestic Sales .2 Strengthen Development Capability ..3 Espicom View ..4 FINANCIAL REVIEW 5 Fiscal Year 2011 Financial Results ..5 Segmental Breakdown 6 Medical Systems 6 Medical Information Systems ..7 General Analysis Systems 7 Medical Analysis Systems 7 Geographic Breakdown ..7 Five-Year Financial Data ..9 Outlook .10 Employees ..10 PRODUCTS 11 Medical Systems .12 Magnetic Resonance Imaging 12 PET/CT ..13 CT 14 Conebeam CT ..14 CB Throne .14 Ultrasound 14 Probes ..18 Bone Densitometry Systems ..18 AOS-100NW .18 DCS-600EX-III 18 Optical Topography .19 X-ray ..19 Medical Information Systems 19 Electronic Health Record Systems ..19 RIS/PACS 19 MediCal Analysis Systems 20 General Analysis Systems 20 Proton Beam Therapy 20 Probeat ..20 RESEARCH AND DEVELOPMENT 22 RandD Expenditure ..22 RandD Facilities 22 RandD Projects and Agreements .22 Using e-flow Technology to Diagnose Coronary Heart Disease .22 Ultrasound-Guided Liver Surgery Makes Tumour Removal Safer ..23 Ultrasound Coupled with e-flow Technology Enables the Identification of Inflammatory Regions 23 Using Ultrasound as a Neuro-Navigational Tool 24 Tumour Tissue Necrotising Technology ..24 Hokkaido University and Hitachi to Develop Proton Beam Therapy System 25 MANUFACTURING AND DISTRIBUTION 27 Manufacturing 27 Sales and Distribution 27 AGREEMENTS 29 iCAD ..29 Key Equipment Finance 29 Horizon Medical Services .30 TomoTherapy ..30 Syntermed .30 Mirada Solutions (part of Siemens Healthcare) ..30 CPS Innovations (part of Siemens Healthcare) 30 CIVCO Medical Instruments .31 MERGERS AND ACQUISITIONS .. 32 Aloka .32 Hitachi Medical Systems America 33 MTS Systems - MR Imaging Systems' Power Supply Business .33 Ecoscan 33 Oki Medical Systems 33 Aloka Mergers and Acquisitions .33 Biomedic Belgium 33 Ecotron Holding 33 KEY CORPORATE EVENTS ..34
List of tables
Recent Key Events .1 Espicom Analysis of Japanese Medical Market, 2012 .4 Hitachi Medical - Annual Financial Results, FY2007-FY2011 5 Hitachi Medical - Annual Sales by Business Segment, FY2007-FY2011 ..6 Hitachi Medical - Annual Revenue by Geographic Region, FY2007-FY2011 ..7 Hitachi Medical - Five-Year Financial Summary ..9 Hitachi Medical - Employees by Business Segment, FY2007-2011 ..10 Hitachi Medical - Annual RandD Expenditure, FY2007-FY2011 ..22 Hitachi Medical - Major Consolidated Subsidiaries, March 2012 28 Agreements Summary 29 Mergers and Acquisitions Summary .32
List of Charts
Hitachi Medical - Annual Sales and Operating Income, FY2007-FY2011 ..5 Hitachi Medical - Sales by Business Segment, FY2007-FY2011 .6 Hitachi Medical - Annual Revenue by Geographic Region, FY2007-FY2011 8 Hitachi Medical - FY2011 Sales by Product Area 11