GE Healthcare is set to take over molecular diagnostics company Clarient to accelerate the development of new integrated tools for the diagnosis and characterisation of cancer.

A subsidiary of GE is expected to commence a tender offer for all outstanding common and preferred shares of Clarient at $5 per common share and $20 per preferred share, in each case payable in cash.

GE Healthcare president and CEO John Dineen said that the company has built a set of diagnostic, information and life science technologies.

“GE and Clarient share a vision that through the integration of our diagnostic technologies we can help pathologists and oncologists make more confident clinical decisions, bring improvements in the quality of patient care and lower the costs of disease management,” Dineen said.

Clarient vice chairman and CEO Ron Andrews said that the combination of Clarient’s people, technologies and services with the resources, brand value, technical capabilities and global reach of GE Healthcare is a tremendous opportunity for the Clarient team.