NEW YORK, Oct. 10 (GenomeWeb News) - General Electric has made a successful bid to acquire Amersham PLC in an £5.7 billion ($9.5 billion) all-stock deal, subject to the waiver of some "regulatory pre-conditions," the companies said early today.
Statements by GE executives indicate that the company plans to retain Amersham's life sciences business in the acquisition. GE Healthcare Technologies, to be based in the UK, will combine Amersham and GE Medical, the companies said.
"Amersham's diagnostic pharmaceutical and life sciences business will add new, high growth platforms to GE Medical's diagnostic imaging, services and healthcare information technology businesses," Jeffrey Immelt, chairman and CEO of GE said in a statement. "The combination of this technological and market knowledge will allow GE to accelerate the development of molecular imaging and personalised medicine where it will be possible to predict and treat disease with therapies tailored to the individual."
When the acquisition is complete, Sir William Castell, chairman of Amersham, will become a vice chairman of GE as well as CEO of GE Healthcare Technologies, and will Join GE's board. However, Joseph Hogan, who is a senior vice president of GE and leader of GE Medical, will continue in this position, the companies said.