[{"innerBlocks":[],"name":"core\/freeform","postId":1216,"blockType":{"name":"core\/freeform","keywords":[],"attributes":{"content":{"type":"string","source":"raw"},"lock":{"type":"object"}},"providesContext":[],"usesContext":[],"selectors":[],"supports":{"className":false,"customClassName":false,"reusable":false},"styles":[],"variations":[],"apiVersion":3,"title":"Classic","description":"Use the classic WordPress editor.","category":"text"},"originalContent":"Financially beleaguered GE has reached a deal to sell its BioPharma business, which provides instruments, consumables and software for research in biopharmaceutical drugs.

The deal, with Washington-based Danaher, will net GE a \u201ctotal consideration\u201d of $21.4 billion, which includes $21 billion in cash as well as Danaher\u2019s assumption of certain pension liabilities.

GE, which has been strapped for cash in light of the conglomerate\u2019s business results and debt load, says it expects to use the proceeds to reduce leverage and strengthen its balance sheet. The transaction is expected to close by the end of the year, pending regulatory approvals and customary closing conditions.

The BioPharma line of business is part of GE Life Sciences, and its products include process chromatography hardware and consumables, cell culture media, single use technologies, development instrumentation and consumables and service.

Pharmaceutical Diagnostics, currently part of GE Life Sciences, will remain within the GE Healthcare portfolio\u2014it supplies contrast media and molecular imaging consumables for radiology customers, and it\u2019s considered \u201chighly complementary\u201d to GE Healthcare\u2019s medical imaging line.

Also See:<\/b> GE Healthcare, VUMC join on cancer immunotherapy research<\/a>

GE Healthcare has a global installed base of more than 4 million imaging, mobile diagnostic and monitoring units\u2014it also provides services, accessories, consumables, education, training and consulting.

GE had previously planned to separate its healthcare unit, which includes life sciences operations, and raise proceeds through an initial public offering of stock. However, those plans are on hold for now, the company says.

\u201cThe BioPharma business has been a strong contributor to our success, and I am confident this agreement represents a great opportunity for our valued colleagues to flourish under the ownership of Danaher,\u201d says GE Healthcare President and CEO Kieran Murphy. \u201cGE Healthcare has unsurpassed scale and scope, and we will continue to focus on our investments so that we deliver better outcomes and more capacity to a world striving for precision health.\u201d
","saveContent":"Financially beleaguered GE has reached a deal to sell its BioPharma business, which provides instruments, consumables and software for research in biopharmaceutical drugs.

The deal, with Washington-based Danaher, will net GE a \u201ctotal consideration\u201d of $21.4 billion, which includes $21 billion in cash as well as Danaher\u2019s assumption of certain pension liabilities.

GE, which has been strapped for cash in light of the conglomerate\u2019s business results and debt load, says it expects to use the proceeds to reduce leverage and strengthen its balance sheet. The transaction is expected to close by the end of the year, pending regulatory approvals and customary closing conditions.

The BioPharma line of business is part of GE Life Sciences, and its products include process chromatography hardware and consumables, cell culture media, single use technologies, development instrumentation and consumables and service.

Pharmaceutical Diagnostics, currently part of GE Life Sciences, will remain within the GE Healthcare portfolio\u2014it supplies contrast media and molecular imaging consumables for radiology customers, and it\u2019s considered \u201chighly complementary\u201d to GE Healthcare\u2019s medical imaging line.

Also See:<\/b> GE Healthcare, VUMC join on cancer immunotherapy research<\/a>

GE Healthcare has a global installed base of more than 4 million imaging, mobile diagnostic and monitoring units\u2014it also provides services, accessories, consumables, education, training and consulting.

GE had previously planned to separate its healthcare unit, which includes life sciences operations, and raise proceeds through an initial public offering of stock. However, those plans are on hold for now, the company says.

\u201cThe BioPharma business has been a strong contributor to our success, and I am confident this agreement represents a great opportunity for our valued colleagues to flourish under the ownership of Danaher,\u201d says GE Healthcare President and CEO Kieran Murphy. \u201cGE Healthcare has unsurpassed scale and scope, and we will continue to focus on our investments so that we deliver better outcomes and more capacity to a world striving for precision health.\u201d
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GE sells BioPharma line, retains GE Healthcare for now

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