This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GE Healthcare Agrees To Acquire Certain Assets Of Rayence, A Subsidiary Of Vatech, Acknowledging Korea’s Technology In Mammography

GE Healthcare (NYSE: GE) today announced that it has agreed to acquire certain Mammography assets of Rayence, a subsidiary of Vatech Co Ltd (KOSDAQ: 043150), a Korean X-Ray manufacturer. The Mammography assets of Rayence will, at closing, become part of the Detection & Guidance Solutions (DGS) business unit of GE Healthcare.

Given the dynamic emerging healthcare market, this acquisition is strategically significant as it will allow GE Healthcare to expand its mammography product range to the Value Mammography segment, estimated to be over $200M. "This opportunity represents another very important step in the company’s strategy of offering complete solutions that meet the needs of our global customers, while helping to provide more access to quality healthcare at a lower cost," said Hooman Hakami, President & CEO — Detection & Guidance Solutions.

“At GE Healthcare we are very excited about the future of Women’s Healthcare. With the mammography assets of Rayence, tailored for regions with specific cost and access needs, we add capability that allows us to bring affordable mammography solutions to new users and rural communities around the world, in particular physicians undertaking screening programs for breast cancer diagnosis. In addition, when combined with GE's core imaging capabilities, we will create a system that will have best in class image quality at the lowest total cost of ownership,” said Prahlad Singh, General Manager – Women’s Health, GE Healthcare, Detection & Guidance Solutions (DGS).”

In addition, the acquisition is part of GE Korea’s growth strategy, “In Korea, For the World”. This deal is especially meaningful as GE Healthcare has identified a Korean company with remarkable technologies in mammography and plans to continue local engineering and production while targeting the global market. GE Healthcare will also play a crucial role for Rayence to secure a sales channel in the global market by signing a separate supply agreement of CMOS detector.

Laurent Rotival, President and CEO of GE Healthcare Korea, said, “This acquisition is another example of Korea’s world class R&D capabilities coming together with GE’s global technology leadership. Our ‘In Korea, For the World’ strategy creates win-win partnerships with local talent and companies.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs