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TOKYO—Toshiba Corporation (Tokyo: 6502) today announced that it will promote acceleration and expansion of its healthcare business by consolidating Toshiba Group's healthcare-related businesses in a new in-house company, the Healthcare Company, that will be established on July 1. As the global population continues to rise and the developed economies continue to see the graying of society, the healthcare market is expected to enjoy continuous growth in coming years. The Healthcare Company will position Toshiba to grow with the market.

The new company will integrate a wide array of know-how and technologies and deploy them to promote business in following key areas: Diagnosis & Treatment, which will explore new generations of diagnostic imaging in addition to current systems; Prevention, which will aim to reduce the risk of disease; and Convalescence & Nursing Care, which will aid people in recovering from disease and injury. On its establishment, the new in-house company will be around 9,000 people scale.

The Healthcare Company will absorb Toshiba's current Healthcare Business Development Division, the carbon iron radiotherapy system currently handled by the Power Systems Company, the Materials & Devices Division's DNA analysis system, and other healthcare businesses from across Toshiba Group.

Toshiba Medical Systems Corporation (TMSC), which develops and markets diagnostic imaging systems, including computed tomography and magnetic resonance imaging systems, and medical IT systems, will be positioned as a subsidiary of the Healthcare Company. With global experience spanning more than 135 countries, TMSC will contribute a strong customer base and business assets that will support the new company in integrating and aligning its business operations.

In July 2013, Toshiba defined Healthcare as third major pillar of business, alongside Energy and Storage, and in February 2014 the company announced its strategies for the healthcare business and a fiscal year 2015 sales target of 600 billion yen (approx. UD$6 billion). In keeping with this commitment, Toshiba has now decided to unify all of its healthcare businesses into the new in-house company. By promoting "New Concept Innovation," the Healthcare Company will bring together the wide-ranging technologies of Toshiba Group to create unique, innovative products and services, and to reinforce and expand its business via diverse sales channels.