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Deal expands GE’s $3 billion ultrasound business from diagnostics into surgical and therapeutic interventions
GE has completed its previously announced acquisition of advanced surgical visualization specialist BK Medical from Altaris Capital Partners, LLC, a healthcare investment firm. The companies entered into a definitive agreement for GE to purchase BK Medical for a cash purchase price of $1.45 billion on Sept. 22.
With this acquisition, GE Healthcare adds the fast-growing and relatively new field of real-time surgical visualization to GE’s pre- and post-operative ultrasound capabilities, creating, according to executives, an end-to-end offering through the full continuum of care—from diagnosis through therapy and beyond. Through synergies with the benefit of GE’s technology and commercial scale, BK Medical will be able to reach new customers and markets around the world, the companies say.
BK Medical is headquartered in Boston and Copenhagen, Denmark. Through advanced ultrasound technology and software, BK Medical enables surgeons to make real-time, data-based decisions during surgical procedures, resulting in potentially better clinical outcomes and reduced costs for patients, physicians and the healthcare system.
GE Healthcare has a long history of ultrasound innovation and a successful track record of growing technology acquisitions. In 1998, GE acquired Diasonics Vingmed Ultrasound Ltd, expanding into the cardiovascular ultrasound segment of the market, and in 2001, acquired Austrian women’s health ultrasound pioneer Kretztechnik.