General Electric Company (GE) Acquires Brazil Medical Equipment Maker XPRO
6/6/2012 9:06:00 AM
General Electric Co said on Tuesday it acquired Brazilian medical equipment manufacturer XPRO as it seeks to expand its presence in Latin America. Speaking at a press conference in Sao Paulo, Fernando Bertoni, head of acquisitions for GE Healthcare in Latin America, declined to give the value of the transaction but said it was a "significant amount, strategically speaking." It was financed with cash generated from operations. XPRO manufactures x-ray machines used in cardiology, neurology and therapeutic radiology. GE plans to make the machines in Brazil for export to other emerging markets such as China and Saudi Arabia, GE executives said.