GE Medical Systems has agreed to acquire Parallel Design, a developer of ultrasound transducer technology. The Waukesha, WI-based vendor said it will use the acquisition to establish a Global Transducer Technology Center of Excellence at Parallel Design’s headquarters in Phoenix.
Parallel Design president and CEO Mehmet Salahi will head the new operation, and will have global responsibility for the development and manufacturing of ultrasound transducers for GE.
The companies anticipate that the transaction will be finalized by the end of this year. Terms of the deal were not disclosed.
GE believes that the addition will help it exceed $750 million in ultrasound revenues in 2001. The multimodality vendor is on track for approximately $660 million in ultrasound sales this year, GE said.
By AuntMinnie.com staff writersOctober 19, 2000
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