General Electric Co’s healthcare unit said on Monday it would sell its information technology business to private equity firm Veritas Capital for $1.05 billion in cash as it sharpens its focus on smart diagnostics and connected devices.
The transaction is expected to close during the third quarter of 2018.
GE said in February it had a “line of sight” on the first $4 billion in asset sales under its plans for $20 billion in disposals, as it tries to shore up its financial performance.
As part of the plan, the company is looking to sell its transportation unit, which makes railway locomotives and the iconic lighting division that makes bulbs for consumers.
Morgan Stanley and Keval Health are GE’s financial advisers, while Goldman Sachs & Co. and William Blair & Co advised Veritas Capital.
Shares of the U.S. industrial conglomerate were down 2.6 percent at $13.14 in line with the broader Dow Jones Industrial Average which fell 2 percent on Monday.
By Sanjana Shivdas
Source: Reuters
Novartis will acquire Mariana’s lead candidate MC-339, a radioligand therapy (RLT) designed to target small-cell lung cancer. Last year, Mariana had raised $175m in a Series B round from several funds and pharma giant Eli Lilly.
The company’s aspiration to expand the use of its obesity products to cardiovascular indications has been successful. In March, its blockbuster drug Wegovy was approved by the US Food and Drug Administration (FDA) for reducing the risk of cardiovascular diseases in obese or overweight adults.
Massachusetts-based Deciphera brings to the table an extensive kinase inhibitor pipeline, kinase drug discovery expertise, and a strong commercial and sales platform in the US and European markets that is meant to advance Ono’s capabilities and presence in the oncology space.
