Tuesday, January 7, 2014

GE Healthcare Goes Further Into Biologics Manufacturing Jobs for $1.06bn

GE (NYSE:GE), together with Thermo Fisher Scientific (NYSE:TMO), has announced very recently, that they have entered into an agreement for GE Healthcare to acquire Thermo Fisher's HyClone™ cell culture media and sera, and gene modulation and magnetic beads businesses for approximately $1.06 billion. The acquisition will allow GE to expand its offering of technologies for the discovery and manufacturing of innovative new medicines, vaccines and diagnostics in its growing Life Sciences business.

GE Healthcare spokesperson Val Jones said the three businesses have approximately 625 people, with facilities in the U.S., Singapore, Australia, New Zealand and Belgium. Asked about any job cuts that might occur, Jones responded that "the knowledge and expertise of the Thermo Fisher employees who would join GE Healthcare as part of the acquisition will be key in the continuing growth of the GE Healthcare Life Sciences business. GE Healthcare values the highly talented employees that will be joining them."

Read more:

"By expanding our production facilities to three continents, we will be able to offer the biopharmaceutical industry greater confidence in the security of supply of cell culture media and sera, a key part of their production process,” added Kieran Murphy, president and CEO of GE Healthcare’s life sciences division. Read the full story here

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