GE Medical Systems to Acquire Imaging Businesses

GE Medical Systems has agreed in principle to acquire the nuclear and magnetic resonance medical imaging businesses of Elscint Ltd. for $100 million.

The transaction calls for GE to acquire Elscint's sales and service capabilities for both of these businesses, including associated personnel, and certain design and manufacturing capabilities of the magnetic resonance imaging business.

The parties plan to continue their joint venture, ELGEMS, which was formed in 1997 for the design and manufacture of nuclear imaging products.

The operations to be acquired by GE include facilities in Israel, the United States and England.