GE buys out Elscint's ELGEMS stake

AuntMinnie.com staff writers

Jan 3, 2001

GE Medical Systems has completed its acquisition of Elscint's stake in the ELGEMS nuclear medicine joint venture. ELGEMS of Haifa, Israel, now becomes a wholly owned subsidiary of Waukesha, WI-based GE.

GE and Elscint formed ELGEMS in 1997 to manufacture nuclear medicine equipment that would be sold by both companies. GE subsequently bought Elscint's nuclear medicine business in 1998.

GE paid $30 million for Elscint's stake in ELGEMS, and GE Medical now has 350 employees in Israel. Elscint retains a manufacturing facility in Ma'alot, Israel, which will continue to manufacture components for ELGEMS.

By AuntMinnie.com staff writers
January 4, 2001
Related Reading

GE to buy out Elscint’s share in ELGEMS, August 31, 2000

Copyright © 2001 AuntMinnie.com

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