FUJIFILM Corporation has announced plans to acquire the diagnostic imaging-related business of Hitachi, Ltd. for approximately ¥179 billion (US$1.6 billion). The move came after FUJIFILM aims to strengthen its medical-related business.

By applying its proprietary image processing and artificial intelligence (AI) technologies to Hitachi's extensive product lineup, FUJIFILM aims to create new values to improve the quality of medical care.

Hitachi will establish a new company through which FUJIFILM will acquire the outstanding shares. Hitachi has been known to providing solutions using diagnostics imaging system, IT and electronic health record since 1953 when it introduced the X-ray system.

The company's Diagnostic Imaging Systems business has a strong global presence, providing a comprehensive suite of products including magnetic resonance imaging (MRI), X-ray, ultrasound systems, among others.