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GE May Buy Abbott's Diagnostics Business

Reports have surfaced that GE Healthcare plans to acquire Abbott's diagnostics equipment business for about $8 billion. As of this morning, neither firm had officially confirmed the deal, but it is being reported by Bloomberg News and others. Abbott's diagnostics business has slowed in growth recently, and perhaps the firm wants to divest it in order to focus more on pharmaceuticals. Bayer did the same thing last year.

GE Healthcare has been aggressively pursuing expansion of its business ever since its 2004 acquisition of Amersham. But the firm is in FDA's doghouse, so integration could be complicated. UPDATE: The deal is now official.

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