Medical Imaging News

January 24, 2007

GE Will Acquire Abbott’s In Vitro and POC Diagnostics Biz

A definitive agreement announced last week will see General Electric Co (GE) acquiring Abbott's primary in vitro diagnostics businesses and Abbott Point-of-Care diagnostics business (formerly known as i-STAT) for $8.13 billion in cash.

The transaction was approved by the boards of directors of both companies and, pending regulatory approvals and other customary conditions, is targeted to close in the first half of the year.

The purchase will expand GE Healthcare's diagnostic offerings, with Abbott's in vitro diagnostic products complementing GE Healthcare's existing positions in the area of in vivo diagnostic imaging systems. In vivo imaging makes use of a multitude of modalities, including x-ray, MR, and ultrasound.

Abbott's in vitro diagnostics business, including Point-of-Care, is expected to generate net sales of approximately$2.7 billion in 2006. Abbott's Molecular Diagnostics and Diabetes Care businesses will remain part of Abbott.

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