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Canon pivots into health field with Toshiba Medical purchase

Electronics maker pressed to branch out as core segments peak

Canon CEO Fujio Mitarai (left) opened up about the motivation and vision behind his company's purchase of Toshiba Medical.

TOKYO --Canon will make medical equipment a central part of its operations through its purchase of Toshiba Medical Systems -- hoping to foster growth in the field as its core digital camera and office equipment businesses slow.

The 665.5 billion yen ($54.7 billion) purchase was finalized Monday. Canon, a Japanese electronics manufacturer, hopes to wring enough synergy from its new subsidiary to justify the price tag, with its own optics and imaging technology and production technology as the key.

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