Siemens will acquire CTI Molecular Imaging, Knoxville, Tenn., a developer of PET and PET/CT technology, for approximately $1 billion in a deal expected to close in the second quarter, subject to regulatory approvals. The acquisition is a natural step in the companies' 18-year association and will strengthen Siemens' commitment in the area of molecular-imaging technology, Siemens said in a news release. CTI was established in 1983. In 1987, Siemens and CTI formed a joint venture, CTI PET Systems, combining the young company's expertise in PET with Siemens' global distribution network. -- by Cinda Becker
Siemens to acquire PET company for $1 billion
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