General Electric Co., Fairfield, Conn., said it will acquire the in-vitro and point-of-care diagnostics businesses of Abbott Laboratories in a deal valued at $8.13 billion. The deal, which requires regulatory approval, is targeted to close in the first half of this year. The addition of Abbotts core laboratory diagnostics businesses will broaden GE Healthcares diagnostic offerings, and reflects GEs strategy to combine early diagnosis with information technology to enable a new early health model of care focused on pre-symptomatic disease detection and prevention, officials said in a news release. Meanwhile, Abbott officials said in a news release that the laboratory diagnostics market has changed considerably in the past decade with innovation increasingly driven by automation, system integration and other skills that GE has pursued. -- by Cinda Becker
GE to buy Abbott businesses for $8 billion
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