text: NV Philips Gloeilampenfabrieken &lt;PGLO.AS> and General Electric Co Plc &lt;GEC.L> are planning a 50-50 joint venture in the medical equipment field Philips announced. The venture will group all the medical systems of the two companies combining GECs Ohio-based medical division Picker International with Philips medical division in a new U.S.-based subsidiary. Picker employs 6000 people worldwide and has production and distribution facilities in North America Britain West Germany the Caribbean and Japan. Pickers turnover in the year ending March 31 1986 totalled 612 mln dlrs according to Philips. Philips own medical systems activities currently part of its Professional Products and Systems division with headquarters in the Dutch town of Brest near Eindhoven has production facilities in the U.S. West Germany France Italy and Britain as well as in the Netherlands. Its 1986 turnover was 2.82 billion guilders. Philips said GEC was planning substantial additional investment in the project to bring its share to 50 pct. The new company will be a vigorous competitor in all the important areas in the world with matching distribution networks and other facilities capable of meeting the needs of rapidly advancing technology in medical systems Philips said. Dutch corporate analysts said the merger will create the worlds second biggest company specialised in medical technology after U.S. General Electric Co &lt;GE.N>. The new company should start operations in the second half of this year a Philips spokesman said. Reuter
target: PHILIPS PLANS MEDICAL JOINT VENTURE WITH GEC