In a concerted effort to augment its presence in the healthcare industry, GE Healthcare, the healthcare operating unit of General Electric Company (GE - Analyst Report), recently inked a definitive agreement to acquire the Transactional Business of Unisyn Medical Technologies, a premier diagnostic imaging products and services provider, for an undisclosed amount. Post-acquisition, the Diagnostic Imaging Field Services business of Unisyn Medical will operate as a separate entity under a new name.
Headquartered in Golden, CO, Unisyn Medical offers high-quality ultrasound probe and repair services at significantly lesser cost by leveraging on its proprietary technologies and advanced technical capabilities. The company utilizes its FirstCall probe-testing device to test the acoustic and electrical properties of ultrasound probes to diagnose and repair the same before shipping them back to the customer.
By pairing with GE Healthcare, the company anticipates to achieve economies of scale and make the products available to a wider customer pool across the world. On the other hand, the acquisition will facilitate GE Healthcare to offer a complete range of probe repair solutions to its customers, thereby further strengthening its position in the market.
Headquartered in the U.K., GE Healthcare offers a broad portfolio of products and services that redefine patient care. The company has a proven expertise in diverse healthcare segments such as medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions. It accounted for 12.3% of the total revenue of General Electric in first quarter 2013.
Serving over 100 million customers worldwide, General Electric is one of the largest and the most diversified technology and financial services corporations in the world, with products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold). Other companies in the industry worth mentioning include ITT Corporation (ITT - Analyst Report), Compass Diversified Holdings (CODI - Snapshot Report), and Honeywell International Inc. (HON - Analyst Report), each carrying a Zacks Rank #2 (Buy).