GE Healthcare of Chalfont St. Giles, U.K., is reportedly planning to buy all or part of the diagnostics business of Abbott Laboratories of Abbott Park, IL, according to a number of published reports about a pending deal.
Articles published January 18 in the New York Times, Wall Street Journal, and other sources indicate that GE is planning to buy a large part of Abbott's diagnostics division, which includes in vitro diagnostics, molecular diagnostics, and diabetes testing, and point-of-care hospital testing.
GE reportedly is most interested in the in vitro diagnostics unit, and the purchase price is rumored to be in the range of $5 billion. GE competitor Siemens Medical Solutions of Erlangen, Germany, has sharply increased its participation in the in vitro diagnostics business through recent acquisitions, such as its purchase of Diagnostic Products and of Bayer's diagnostics business.
By AuntMinnie.com staff writers
January 18, 2007
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