General Electric Co GE is trading higher Thursday after the company's healthcare unit announced the acquisition of BK Medical for $1.45 billion in cash.
General Electric's healthcare unit expects BK Medical to deliver rapid revenue growth as well as margin expansion and free cash flow growth.
“Ultrasound today forms an integral part of many care pathways, and BK Medical is a strategic and highly complementary addition to our growing and profitable Ultrasound business," said Kieran Murphy, president and CEO of GE Healthcare.
BK Medical is an innovator in global intraoperative imaging and surgical navigation, used to guide clinicians during minimally invasive and robotic surgeries and to visualize deep tissue during procedures in neuro and abdominal surgery, as well as in ultrasound urology.
Strength in General Electric stock may also be in sympathy with the overall market as investors weigh Wednesday's Fed decision to keep rates unchanged along with a rebound following recent weakness driven by China volatility.
GE Price Action: General Electric was up 4.93% at $103.39 at time of publication.
Photo: ricky shore from Flickr.
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