GE Healthcare Acquires Wave Biotech LLC, Broadening Capabilities in Growing Biopharmaceutical Manufacture Segment



    CHALFONT ST. GILES, ENGLAND, April 16 /CNW/ - GE Healthcare, a unit of
General Electric Company (NYSE:  GE), today announced it has acquired Wave
Biotech LLC, a supplier of innovative disposable manufacturing technologies
for the biopharmaceutical industry. The acquisition of Wave Biotech LLC
including its subsidiary Wave Europe Pvt. Ltd. will allow GE Healthcare to
expand its offering of products and services for the manufacture of
biopharmaceuticals such as antibodies and vaccines. Financial terms were not
disclosed.

    Wave Biotech develops and manufactures unique bioreactors which are
designed to replace traditional and more expensive stainless steel tanks and
piping. The patented products offer considerable advantages such as more rapid
installation, potentially reducing time to market, and significantly lower
costs by eliminating the need for cleaning and validating between batches. The
equipment is already in use in over three hundred companies worldwide. Wave
Biotech single use bioreactors are also increasingly being used to enable the
manufacture of patient-specific cell and gene therapy products.

    Ann O'Hara, General Manager of GE Healthcare's BioProcess business, said
"Wave Biotech is an excellent company with a strong track record of innovation
and a product range that is highly complementary with our existing BioProcess
business. The combination of GE Healthcare and Wave Biotech will allow us to
expand into new applications and to create a broad offering of added value
tools and services for biopharmaceutical manufacture."

    "We are very excited to be part of GE Healthcare, who already offer a
broad range of technologies and services to the biopharmaceutical
manufacturing industry" said Dr. Vijay Singh, President and founder of Wave
Biotech. "Our customers will benefit greatly from the global presence and the
R&D resources that GE Healthcare brings to the table. The integration of
single-use cell culture with GE Healthcare's existing filtration and
downstream operations will provide a host of new disposable solutions to this
growing industry."

    About GE Healthcare

    GE Healthcare provides transformational medical technologies and services
that are shaping a new age of patient care. Our expertise in medical imaging
and information technologies, medical diagnostics, patient monitoring systems
performance improvement, drug discovery, and biopharmaceutical manufacturing
technologies is helping clinicians around the world re-imagine new ways to
predict, diagnose, inform, treat and monitor disease, so patients can live
their lives to the fullest.

    GE Healthcare's broad range of products and services enable healthcare
providers to better diagnose and treat cancer, heart disease, neurological
diseases and other conditions earlier. Our vision for the future is to enable
a new "early health" model of care focused on earlier diagnosis,
pre-symptomatic disease detection and disease prevention. Headquartered in the
United Kingdom, GE Healthcare is a $17 billion unit of General Electric
Company (NYSE:  GE). Worldwide, GE Healthcare employs more than 46,000 people
committed to serving healthcare professionals and their patients in more than
100 countries. For more information about GE Healthcare, visit our website at
www.gehealthcare.com.

    About Wave Biotech LLC

    Wave Biotech is a research-based company that develops and manufactures
innovative process equipment for the pharmaceutical and biotechnology
industry. Our focus is on developing disposable bioprocess equipment for
operations traditionally requiring stainless-steel tanks and piping. Key
products, such as the Wave Bioreactor, Wave Mixer, and Sterile Tube Fuser,
feature disposable contact materials that eliminate cleaning and validation,
thereby reducing costs in operations ranging from cell culture, media
preparation, buffer dissolution, thawing process intermediates to
patient-specific cell therapy in hospitals. These unique, patented, devices
can be installed and commissioned rapidly, drastically reducing the
time-to-market for biological products. This equipment is in use with hundreds
of companies worldwide, both for R&D and commercial applications. Wave Biotech
employs approximately 70 people worldwide and operates R&D and manufacturing
facilities in Somerset, New Jersey. Wave Biotech's annual revenues are
approximately $25 million. Dr. Vijay Singh, President and founder of Wave
Biotech, will continue to operate the business from the Somerset facility.
More information is available at www.wavebiotech.com.




For further information:

For further information: GE Healthcare Europe, Asia, Australasia Dr Val
Jones val.jones@ge.com +44 7917 175-192 +44 1494 498052 or Americas Arvind
Gopalratnam arvind.gopalratnam@ge.com +1 414 721-2429 +1 262 501-0777 or Wave
Biotech LLC Daniella Kranjac dkranjac@wavebiotech.com +1 732 302-3100

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