Business

GE Competitor Siemens Healthineers Makes Blockbuster Acquisition


GE Healthcare , after selling part of its business to Danaher (DHR) in 2020, has annualized sales of roughly $16 billion.


Sales and earnings are down from the comparable quarter of 2019, presumably because many voluntary health procedures have been deferred by patients amid the pandemic.


“Today’s announcement represents an important milestone in our company’s history,” said Varian CEO Dow Wilson in the joint news release.


“The combination with Siemens Healthineers brings us even closer to realizing our transformative vision of a world without fear of cancer.”


GE shares, on the other hand, have fallen about 47% year to date, far worse than the comparable returns of the S&P 500 and Dow Jones Industrial Average .


Investors can get a sense of the logic behind the combination and if other companies—including GE—will look to marry diagnostics and therapies in the aftermath of Sunday’s big deal.






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