Abbott , GE Announce Contract Termination

By Labmedica staff writers
Posted on 17 Jul 2007

Abbott (Abbott Park, IL, USA) and General Electric (GE; Norwalk. CT, USA) have mutually agreed to terminate their contract for the sale of Abbott's core laboratory and point-of-care diagnostics businesses to GE.

The two companies worked diligently to complete the transaction but were unable to reach agreement on final terms and conditions. As a result, they agreed it was in the best interests of both companies to terminate their agreement and discussions.

Abbott is a global, broad-based healthcare company devoted to the discovery, development, manufacture, and marketing of diagnostics, pharmaceuticals, and medical products, including nutritionals and devices.

GE possesses diversified technology with a large range of products for water processing and security, medical imaging, business and consumer financing, media content, and advanced materials.

Related Links:
Abbott
General Electric