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GE Healthcare to Acquire Swedish Medical Company

by Medindia Content Team on  June 21, 2006 at 6:58 PM Corporate News   - G J E 4
GE Healthcare to Acquire Swedish Medical Company
General Electric Co is to buy Swedish medical company Biacore to complement its own healthcare division GE Healthcare, the two companies have announced.
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The Fairfield, Connecticut-based GE will purchase Biacore, which specialises in instruments for medical research, for 3.22 billion Swedish kroner ($438 million).

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Pharmaceutical company Pfizer Inc, which holds a 41 percent stake in Uppsala, Sweden-based Biacore, supports the bid, according to GE.

"We are extremely excited about Biacore's prospects," GE Healthcare chief executive Joe Hogan said in a statement. "Our joint offerings will create added value for our customers in biomedical and drug discovery research."

(Source: IANS News)
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