GE Medical to sell PET business Texas competitor to pay $25 million plus stock

From: The Milwaukee Journal Sentinel | Date: July 16, 1996| Author: GEETA SHARMA-JENSEN | Copyright information

GE Medical Systems Inc. said Monday that it had agreed to sell the engineering and manufacturing parts of its positron emission tomography business, one of its smallest divisions, to a Houston-based competitor.

The Texas firm, Positron Corp., will pay $25 million in cash and 10% of common stock outstanding about $8 million, based on Monday's share price of about $4.50 for the production and development rights. GE Medical also will receive a three-year option to buy an additional...

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