General Electric Co. said it will move into the uncharted waters of personalized medicine by acquiring Amersham, a London-based life sciences company that makes diagnostic imaging agents, in an all-stock transaction worth about $9.5 billion. On completion of the deal, William Castell, CEO of Amersham, will become a vice chairman and board member of General Electric and CEO of GE Healthcare Technologies, the combination of Amersham and GE Medical, based in the U.K. Joseph Hogan will continue to lead GE Medical. The acquisition promises to accelerate GE's development of molecular imaging and personalized medicine "where it will be possible to predict and treat disease with therapies tailored to the individual," said GE Chairman and CEO Jeffrey Immelt said in a company news release. The deal, which requires regulatory approval in Europe and the U.S., is expected to close in the first half of 2004. -- by Cinda Becker
GE to enter personalized medicine with deal
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