NEW YORK (Associated Press) - Royal Philips Electronics NV, one of Europe’s largest medical equipment and electronics manufacturers, said Tuesday it will acquire privately held U.S.-based Emergin Inc., a provider of clinical alarms used in hospitals. Financial terms of the deal were not disclosed. When the transaction is completed, Emergin will be folded into Royal Philips’ patient monitoring business unit within the company’s health care sector.

The deal is expected to close in the fourth quarter. U.S.-listed shares of Royal Philips fell a penny to $41.42 in morning trading.

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