Abbott's in vitro diagnostics business, including Point-of-Care, is expected to generate net sales of approximately$2.7 billion in 2006.

Miles D. White, Abbott's Chairman of the Board and Chief Executive Officer, said, "The laboratory diagnostics market has changed considerably in the last decade. Innovation in this segment will be increasingly driven by automation, system integration and a host of skills that GE can offer. As part of GE, Abbott's core diagnostics and point-of-care businesses will be powerfully positioned to sustain and extend their market success."


For Abbott, the transaction is expected to be neutral to earnings-per-share in 2007 before specified items and accretive thereafter.


GE said the transaction will be accretive to earnings.


Joe Hogan, president and CEO of GE Healthcare, said, "Over the last 5-to-10 years, we have been able to drive organic growth as well as successfully integrate major acquisitions like Amersham in a way beneficial to employees and investors. Through this acquisition, we create the opportunity to integrate our broad-based competencies in diagnostics, life sciences and healthcare information technology. In-vitro diagnostics and in vivo imaging continue to become more important in providing comprehensive diagnostic solutions. Our capabilities combined with Abbott's in vitro diagnostics and point-of-care diagnostic businesses will allow GE to provide customers with better tools for the full care continuum, enhancing their decision-making capabilities in key disease areas such as oncology and cardiology, and enabling early disease detection, diagnosis and treatment. "


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