GE plans medical technology acquisitions in Germany

Reuters News
Posted: Sep 22, 2012 6:55 AM
GE plans medical technology acquisitions in Germany

FRANKFURT (Reuters) - General Electric plans to make acquisitions in Germany to raise its market share in CAT scan and MRI technology, the company's new Germany chief told a magazine.

"Especially in the high-end segment we want to double, in some areas even triple, our market share," Volker Wetekam told Wirtschafts Woche weekly, according to an excerpt of an article to be published on Monday.

He said the company plans to spend a "considerable" sum on acquisitions, without elaborating.

"We are looking for companies that move us forward in terms of technology, not just in Germany but globally. We are currently holding talks," he said.

General Electric employs about 1,800 people at its medical technology business in Germany. It plans to hire about 100 more staff to expand its research department in the country and form new partnerships with university clinics, the article said.

(Reporting by Maria Sheahan; Editing by Hugh Lawson)