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GE Buys Wave Biotech

It pushes into biopharmaceuticals.
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General Electric (GE) - Get Free Report acquired Wave Biotech in a bid to build up its biopharmaceuticals manufacturing services arm.

GE Healthcare said Wave has 70 workers and annual revenue of $25 million. It operates a Somerset, N.J.-based research-and-development center. The company focuses on building disposable bioreactors for the manufacture of antibodies and vaccines.