Kennywood isn't the only locally owned business ready to be sold.

Netherlands-based Royal Philips Electronics announced on Friday it was prepared to buy Murrysville-based Respironics for $5.1 billion.

The deal is expected to be finalized early next year after shareholders approve the sale.

Respironics will be the cornerstone of Healthcare Solutions, part of Philips Healthcare, once the sale is complete.

Andre Manning, spokes-man for Philips Healthcare, said the company would stay in Murrysville.

Maryellen Bizzack, spokeswoman for Respironics, said it was too early to tell what impact the pending sale would have on employees but that the leaders of the company will remain in place.

The expansion of both organizations could be possible in the future, Bizzack said.

"Both companies are very focused on growth," she said.

Of the company's 5,300 employees, 1,700 are based in western Pennsylvania.

As news of the sale spread through the company on Friday, the reputation of Philips Healthcare calmed some nervousness over the potential merger, Bizzack said.

"There's definite optimism," she said. "People recognize Philips as a strong brand."

Bizzack said both companies should be able to expand internationally because of the agreement.

John Cardwell, executive director of the Murrysville Economic and Community Development Corp., said while there are often concerns over a foreign company buying into an American company, in most cases few changes occurs.

"I don't know for the most part they've disrupted anything local," Cardwell said.

If the company continues to do business in the municipality, few changes should be seen, he said.

"If they leave everything in place in Murrysville, I don't know we'll see a difference," Cardwell said.

Philips Healthcare could add more international business to Respironics which would attract more employees to the company and Murrysville, Cardwell said.

Royal Philip Electronics has bought into several home healthcare companies since last year including Lifeline Systems and Health Watch, emergency medical alert companies and Raytel Cardiac, a heart monitoring service.

Respironics has expanded in recent years to include offices in Monroeville and Plum. The company also plans to open a new facility in Upper Burrell that will produce sleep apnea products.