STOCKHOLM, March 15 Swedish medical technology
firm Getinge will steer clear of acquisitions in the
near term as it fixes problems at its manufacturing sites, its
chief executive said.
Getinge, which makes surgical theatre equipment such as
heart-surgery products and anaesthesia machines, earlier this
month warned of a sharp fall in first-quarter earnings and said
it faced more than a year of heavy spending to boost quality
controls, sending the share down 21 percent.
The company has expanded rapidly through acquisitions in
past years. But, in an interview with Swedish business daily
Dagens Industri on Saturday, Getinge CEO Johan Malmquist said
the firm would focus on quality management and other operational
improvements this year and next.
"But in the long term, we will continue to buy companies,"
Malmquist said. High valuations of medical technology firms
would have been a deterrent to acquisitions this year anyway, he
(Reporting by Sven Nordenstam; Editing by Mark Heinrich)