GE Healthcare has completed its $1.45 billion purchase of BK Medical, a move aimed at broadening the imaging giant’s ultrasound portfolio, leaders said Tuesday.
Based in both Boston and Copenhagen, Denmark, the smaller firm specializes in intraoperative imaging and navigation, helping physicians visualize organs in real time during surgery. Chicago-headquartered GE is acquiring BK in an all-cash deal from investment firm Altaris Capital Partners, bolstering its ultrasound line to a $3 billion business.
“We are thrilled to bring our extraordinary teams together, learn from each other and continue to build on our deep, shared expertise as we grow our portfolio that our customers turn to and trust,” Roland Rott, president and CEO of GE Healthcare Ultrasound, said Dec. 21.
The two companies first announced their intent to merge back in September. GE said at the time that it expects BK Medical to deliver rapid revenue growth, expanding its margins and bolstering free cash flow. Leaders are forecasting high single-digit returns on their invested capital within the next five years.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.