GE Healthcare agrees to buy Clarient for $580 Million

By on Oct 22, 2010 in Business, Health, Science Comments

GE Healthcare was said to have agreed to buy Clarient for $580 million, according to an online press release posted at GE Healthcare’s website on Friday.

As GE Healthcare revealed that it bought Clarient, which was said to be leader in molecular diagnostic technology, at $5.00 per common share and $20.00 per preferred share, both in cash payment.

Molecular diagnostic technology is being noted to provide a more accurate detail about a patient with cancer, and helps doctors decide the best treatment.

Meanwhile GE Healthcare President and CEO John Dineen believe that ‘Clarient has built a world-class set of diagnostic, information and life science technologies’.

“We believe we can build a $1 billion-plus business by developing integrated diagnostic solutions for cancer and other diseases,” as Mr. Dineen was quoted as saying.

On the other hand, Clarient CEO and Vice Chairman Ron Andrews said that ‘the combination of Clarient‘s people, technologies and services with the resources, brand value, technical capabilities and global reach of GE Healthcare is a tremendous opportunity for the highly talented Clarient team’.

“We will now have access to the resources we need to accelerate our development plans. We are proud of the progress we have made in bringing our molecular diagnostic technologies to market, and joining with GE Healthcare will allow us to realize our ambitious plans and actualize our goal of becoming one of the industry’s most relevant companies in the management of cancer.” Mr. Andrews added.

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