By Ian Walker

Koninklijke Philips N.V. (PHIA.AE) said late Monday it is buying pharmacy sleep testing firm Australian Pharmacy Sleep Services for an undisclosed sum.

The Dutch health technology company said the deal will help to accelerate the business' home sleep testing offering through the pharmacy channel in Australia. The transaction is expected to be completed in the second quarter of 2017, subject to customary closing conditions, Philips added.

Founded in 2011, Australian Pharmacy Sleep Services has a sleep apnea program for pharmacies that includes screening, home-based sleep studies based on continuous positive airway pressure therapy, training and services.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

March 28, 2017 01:41 ET (05:41 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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