Canon Inc. agreed to buy Toshiba Corp.'s medical equipment unit for ¥665.5 billion ($5.9 billion) as the world's biggest maker of cameras seeks new growth.
The deal will be funded by existing cash and borrowed funds, Tokyo-based Canon said in a statement Thursday. The agreement comes a day after unsuccessful bidder Fujifilm Holdings Corp. questioned Toshiba about the sale.
Toshiba, which makes everything from nuclear power equipment to laptop computers, flash memory chips and home appliances, is seeking to revive profits by narrowing the scope of its business lines. An accounting scandal has left the conglomerate in tatters, facing record losses, job cuts and potential spinoffs.