GE to buy BK Medical for $1.5 billion to expand ultrasound business

Shares of General Electric Co. rose 0.9% in premarket trading Thursday, after the industrial conglomerate said its Healthcare business unit was buying surgical visualization company BK Medical for $1.45 billion, from Altaris Capital Partners. Boston- and Copenhagen-based BK Medical has more than 650 employees and is growing revenue in the double-digit percentage range. The deal is expected to close in 2022. "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 GE Healthcare Chief Executive Kieran Murphy. GE Healthcare expects BK Medical to deliver "rapid" revenue growth, as well as margin expansion and free cash flow growth. GE's stock has slipped 4.9% over the past three months through Wednesday, while the S&P 500 has gained 3.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

GE to buy BK Medical for $1.5 billion to expand ultrasound business
Shares of General Electric Co. rose 0.9% in premarket trading Thursday, after the industrial conglomerate said its Healthcare business unit was buying surgical visualization company BK Medical for $1.45 billion, from Altaris Capital Partners. Boston- and Copenhagen-based BK Medical has more than 650 employees and is growing revenue in the double-digit percentage range. The deal is expected to close in 2022. "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 GE Healthcare Chief Executive Kieran Murphy. GE Healthcare expects BK Medical to deliver "rapid" revenue growth, as well as margin expansion and free cash flow growth. GE's stock has slipped 4.9% over the past three months through Wednesday, while the S&P 500 has gained 3.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.