GE Healthcare, a $16 billion unit of General Electric Company, agreed Friday to buy cancer diagnostic company Clarient, Inc.
It’s the second big deal for GE since CEO Jeffrey Immelt announced in July that the company plans to deploy some of its $25 billion war chest for key acquisitions. Under the deal, GE will pay $587 million for the company–$5 per share–representing a 33.7 percent premium over Clarient’s closing price Thursday. The acquisition is expected to speed up GE Healthcare’s development of its molecular diagnostic business.
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