GE buys Orbotech unit

GE Healthcare has entered into an agreement to acquire the assets of Orbotech Medical Solutions, a subsidiary of Orbotech Ltd. that manufactures cadmium zinc telluride detectors. These detectors are used in GE's Alcyone nuclear medicine technology. GE will pay $9 million in cash at closing for the assets of OMS and up to an additional $5 million in cash, subject to the achievement of certain agreed performance-based milestones.

"We believe the future of nuclear medicine lies in the further development of CZT used in our Alcyone technology," says Nathan Hermony, general manager Nuclear Medicine for GE Healthcare. "Through this acquisition, we will expand our investment in CZT technology to benefit our molecular imaging customers, bringing new nuclear medicine technologies to healthcare professionals worldwide."

OMS' other customers include Royal Philips Electronics and Siemens AG. GE acquired Orbotech Medical Systems in order to strengthen its position in the three-way rivalry, Globes notes. OMS has 50 R&D employees and outsources its other activities.

The transaction is expected to close in Q1 2011.

- get the GE Healthcare release
- read the Globes article

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