by Medindia Content Team on  June 21, 2006 at 6:58 PM Corporate News
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.

The Fairfield, Connecticut-based GE will purchase Biacore, which specialises in instruments for medical research, for 3.22 billion Swedish kroner ($438 million).

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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