View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 20, 1987

GEC, PHILIPS CONFIRM TALKS ON MEDICAL SYSTEMS MERGER

By CBR Staff Writer

After a fortnight of rising speculation (CI No 660), GEC finally confirmed on Thursday that it was in talks with Philips NV that could lead to a merger of their medical systems businesses to create a company with annual sales of $2,000m and 17,000 employees. GEC would be injecting its Picker acquisition from RCA and its pre-existing businesses, which together account for annual turnover of UKP420m – $672m – with UKP20m of operating profits. GEC is particularly strong in the US, Philips on the continent, and GEC makes up in its cash resources for the fact that Philips’ medical business is about twice the size.

Topics in this article :
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU