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GE sells biopharmaceuticals to
Danaher Corp.
Recently, General Electric (GE) announced that it will sell the biopharmaceutical business of its life sciences division to Danaher for a total price of $21.
4 billion, including a $21 billion cash payment by Danaher and a partial pension debt
.
GE hopes to reduce leverage and strengthen its balance sheet
through this transaction.
The transaction is expected to close
in the fourth quarter of 2019.
Another part of the Life Sciences Division, diagnostics, will remain in
GE Healthcare's portfolio.
The business provides contrast agents and molecular imaging consumables to radiology customers around the world and is highly complementary to
GE Healthcare's medical imaging business.