GE And Abbott Walk Away From $8 Billion Diagnostics Deal
This article was originally published in The Gray Sheet
Executive SummaryAbbott says it will continue to manage its core laboratory and point-of-care diagnostics business for the long-term following the collapse of an $8.13 billion deal to sell the unit to General Electric
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Abbott Laboratories' diagnostic business is rolling out its new line of Alinity systems across its core lab, point-of-care, and molecular markets. Executive VP Brian Blaser says the systems are the realization of an ongoing customer-centric shift by the business, and the firm highlights a turnaround for a diagnostics unit that, only a decade ago, Abbott was trying to wash its hands of.