Neusoft Group Ltd. of China and Royal Philips Electronics of the Netherlands sign MOU.

Neusoft Group Ltd. of China and Royal Philips Electronics of the Netherlands have announced the signing of an MOU to set up a manufacturing and R&D joint venture for medical systems. The joint venture, to be called Philips-Neusoft Medical Systems Co. Ltd., will focus on developing and manufacturing medical imaging systems for Chinese and international markets, and expects to expand production by approximately 30 percent annually over the next
five years.