GE acquisitions boost service program

September 25, 1996

GE Medical Systems last month increased its growing investmentin the equipment maintenance sector by agreeing to acquire twocompanies that market service-related products. GE bought theU.S. healthcare insurance business of Specialty Underwriters ofOak

GE Medical Systems last month increased its growing investmentin the equipment maintenance sector by agreeing to acquire twocompanies that market service-related products. GE bought theU.S. healthcare insurance business of Specialty Underwriters ofOak Creek, WI, as well as independent service organization MaintenanceManagement, which is a subsidiary of Specialty Underwriters.

Specialty Underwriters offers healthcare maintenance insurance,in which an insurer covers a healthcare facility and pays forthe costs of equipment repair and maintenance, much as individualindemnity insurance plans do. Maintenance Management specializesin biomedical service, according to Gary Foster, GE's generalmanager of service marketing. The acquisition adds niche productsand services to GE's multivendor service business.

"It will continue our emphasis on having the broadest arrayof products for our customers," Foster said.

Both businesses were founded and owned by Michael Polaski, whowill continue to operate the non-healthcare operations of SpecialtyUnderwriters, as well as the company's healthcare maintenanceinsurance operations outside the U.S.