GE Medical completes purchase of Mecon

GE Medical Systems had finalized its acquisition of Mecon, a developer of data mining and Internet-based benchmarking products for the healthcare field. Mecon, of San Ramon, CA, will now operate as a wholly owned subsidiary of GE. As a result of the merger, Mecon shareholders will receive 0.081 shares of GE stock for each share of Mecon stock held at the close of the merger, plus cash for any fractional shares. David Allinson, Mecon’s CFO, will assume the role of president and CEO, while Vasu Devan, president and CEO of Mecon since the company was founded, will continue in an advisory capacity.