TOKYO -- Fujifilm Holdings has decided to buy Hitachi's diagnostic imaging device business, Nikkei learned Tuesday.

The acquisition, which is expected to cost the Japanese imaging company around 170 billion yen ($1.55 billion), is aimed at giving Fujifilm the scale to compete with the top three global players: Germany's Siemens, General Electric of the U.S. and Dutch manufacturer Philips.

Fujifilm has been beefing up its medical equipment business, particularly endoscopy and X-ray imaging. Now it is turning its attention to the CT scanners, MRI devices and ultrasound devices that Hitachi specializes in.

Fujifilm and Hitachi both plan to hold board meetings and vote on the proposed deal on Wednesday.

According to U.K. market researcher Evaluate, the top three medical imaging companies hold a combined 65% share of the global market. In 2016, Fujifilm offered to buy Toshiba Medical Systems, but was beaten out by Japanese rival Canon, which won the exclusive right to negotiate a buyout and successfully completed the acquisition.


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