GE Healthcare continues its push into emerging markets, but with a focus this time on Brazil.
The division of the conglomerate GE ($GE) has snatched up Xpro, a Brazilian medical device company that makes interventional X-ray equipment. Neither side is disclosing financial terms, but GE said in a statement that the deal adds crucial technology and products to its own imaging technology offerings, and the company has big plans to expand Xpro's reach.
The goal here is to combine Xpro's offerings of targeted, lower-cost devices for the developing world with GE's global marketing reach. GE Healthcare plans to add the company to its Detection & Guidance Solutions business, which pulls in $2 billion globally, employs about 1,700 people and markets various devices and related medical equipment in the U.S., France, Hungary, India and China, GE notes.
Reinaldo Garcia, president and CEO of GE Latin America, said the acquisition fits with a larger goal of GE expanding its healthcare products presence in Latin America. The company also continues with an eye toward China, having recently opened an $80 million research center in Chengdu that will focus on developing medical devices appropriate for rural healthcare, such as handheld ultrasound and teleconferencing technology.
- read the release