September 22, 2012 / 10:55 AM / in 5 years

CORRECTED-GE plans medical technology acquisitions in Germany

(Corrects to show Wetekam is CEO of GE Healthcare in Germany, not of all General Electrics’ German operations)

FRANKFURT, Sept 22 (Reuters) - General Electric plans to make acquisitions in Germany to raise its market share in CAT scan and MRI technology, the company’s new chief of GE Healthcare in Germany told a magazine.

“Especially in the high-end segment we want to double, in some areas even triple, our market share,” Volker Wetekam told Wirtschafts Woche weekly, according to an excerpt of an article to be published on Monday.

He said the company plans to spend a “considerable” sum on acquisitions, without elaborating.

“We are looking for companies that move us forward in terms of technology, not just in Germany but globally. We are currently holding talks,” he said.

General Electric employs about 1,800 people at its medical technology business in Germany. It plans to hire about 100 more staff to expand its research department in the country and form new partnerships with university clinics, the article said. (Reporting by Maria Sheahan; Editing by Hugh Lawson)

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