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Philips Electronics to Buy Agilent Division for $1.7 Billion

Philips Electronics

(PHG) - Get Koninklijke Philips N.V. NY Registry Shares Report

agreed to buy

Agilent's

(A) - Get Agilent Technologies Inc. Report

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Healthcare Solutions Group

for $1.7 billion.

Philips, which is based in Amsterdam, will incorporate the Agilent unit's 400 health care products and services into its medical business,

Philips Medical Systems

.

Agilent's Healthcare Solutions Group has annual sales of $1.5 billion. The company's products and services include patient monitoring, ultrasound imaging and information management.