24 Jul GE Healthcare buys Vital Signs for $860 million
Milwaukee, Wis. — GE Healthcare announced Thursday the acquisition of Vital Signs, a New Jersy-based provider of medical equipment, for $74.50 per share. The price values the deal at $860 million and is a 28-percent premium over the $58 close of Vital Signs on Nasdaq on Wednesday.
The firm will become part of GE Healthcare’s Clinical Systems business, which is headquartered in Wauwatosa, outside Milwakee. The deal is expected to close in the fourth quarter.
Vital Signs’ products include consumables such as single-use anesthesia equipment that gives GE Healthcare an additional revenue stream.
“We expect this business to grow at double-digit rates,” said Omar Ishrak, president and CEO of GE Healthcare’s Clinical Systems unit, according to Reuters. Last year, Vital Signs netted $19 million on $205 million in revenues.