Little Chalfont, UK: Stockholm, Sweden- GE Healthcare Life Sciences has agreed to acquire surface plasmon resonance company Biacore AB in an offer valued at SEK2,860 million ($390 million), net of Biacore cash and equivalents. GE Healthcare will pay SEK330 ($44.70) per share, a 17% premium over the stock’s closing price on June 19, and a 35% premium over the volume weighted average share price for the month ended June 19. “Life sciences is a key area of growth for GE Healthcare, and Biacore is highly complementary and synergistic with our existing protein sciences business. We are extremely excited about Biacore’s prospects and believe our joint offerings will create added value for our customers in biomedical and drug discovery research,” said GE Healthcare President and CEO Joe Hogan. GE Healthcare cited Biacore’s complimentary products and GE’s ability to grow the company’s sales and applications of its technologies as reasons for the acquisition. GE plans to form a center of excellence in protein science in Uppsala, Sweden, the location of Biacore and GE Healthcare Life Sciences’ headquarters. Pfizer, a holder of 41% of Biacore’s shares, and Biacore’s Board of Directors have approved the transaction, which is expected to close in August pending 90% shareholder approval.