- General Electric Co GE has agreed to acquire BK Medical from Altaris Capital Partners for $1.45 billion cash.
- BK Medical is an intraoperative imaging and surgical navigation company with headquarters in Boston and Copenhagen and more than 650 employees worldwide.
- This acquisition supports GE Healthcare's $3 billion Ultrasound business' expansion from diagnostics into surgical and therapeutic interventions.
- GE Healthcare expects BK Medical to deliver rapid revenue growth, margin expansion, and free cash flow growth. GE Healthcare also expects a high-single-digit return on invested capital by year five.
- GE Industrial held a cash balance of $15.6 billion as of June 30, 2021.
- The parties expect the transaction to close in 2022.
- Price Action: GE shares are trading higher by 4.51% at $103.01 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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