Issue Date: January 29, 2007
GE will acquire Abbott diagnostics ...
General Electric has agreed to acquire Abbott Laboratories' in vitro and point-of-care diagnostics businesses for $8.13 billion in cash. The in vitro unit tests blood or urine samples to diagnose disease. GE says the new business will complement its existing in vivo diagnostic imaging systems, which use X-ray, magnetic resonance, and ultrasound to diagnose disease. The point-of-care unit manufactures diagnostic products for blood gas and blood chemistry analysis in doctors' offices and emergency rooms. The acquisition builds on GE's 2003 purchase of Amersham, a maker of imaging agents and drug discovery tools.
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