GE/Elscint joint venture makes progress

GE Medical Systems of Milwaukee and Elscint of Haifa, Israel, took another step toward finalizing their agreement to form a joint-venture company to develop and manufacture nuclear medicine equipment (SCAN 2/19/97). The vendors announced last week that they had signed a definitive agreement to form the new company, thus solidifying the agreement in principle announced in February. The new company, called ELGEMS, will be based in Israel. The deal is expected to close within two months.