GE Healthcare to acquire Orbotech Medical Solutions for $14 million

GE Healthcare, a unit of General Electric Company, has announced that it has entered into an agreement to acquire the assets of Israel-based Orbotech Medical Solutions Ltd. (OMS), a subsidiary of Orbotech Ltd. for $9 million in cash, and up to an additional $5 million depending on meeting milestones.

The deal is due to close during the first quarter of 2011.

Orbotech is principally engaged in the design, development, manufacture, marketing and service of yield-enhancing and production solutions for specialised applications in the supply chain of the electronics industry.

Its products include automated optical inspection (AOI), production and process control systems for printed circuit boards (PCBs) and AOI, test and repair systems for flat panel displays (FPDs).

The company also markets computer-aided manufacturing (CAM) and engineering solutions.

''We believe the future of nuclear medicine lies in the further development of cadmium zinc telluride (CZT) used in our Alcyone technology,'' said Nathan Hermony, general manager Nuclear Medicine for GE Healthcare.