MEDICAL EQUIPMENT & TECHNOLOGY CORP.

has purchased Boston Instruments’ medical optical equipment and equipment and software for $2.4 billion.

The deal is subject to customary closing conditions.

The acquisition was announced on Wednesday by the companies’ chief executive officer, John Kalogridis, in a conference call with investors.

The transaction will create Boston Instruments, based in Cambridge, Mass., the largest U.S. optical device maker.

The Boston-based company has been a major supplier of medical imaging equipment and products to hospitals and doctors for more than 30 years.

The company, which has a market value of $8.2 billion, has been in talks with the FDA for a variety of products and technologies, including its use of 3D-printing technology. 

The company also is developing an optical prosthetic, which will be available in 2021, Kalogridgeis said on the call. 

“This is a very exciting acquisition for us and a great way to support the Company’s vision for the future,” he said. 

Boston Instruments is a unit of General Electric Co. GE, +0.02% The company said the acquisition will create a company with an impressive portfolio of innovative optical devices, including the Boston-area Medi-Link, the first-ever commercial 3D printed implant, as well as new optical technology including the world’s largest 3D printing laser and high-definition video and sound systems. 

A spokeswoman for GE declined to comment. 

In August, GE and Boston-born startup Boston-affiliated optical company MediLens were in talks to buy MediScan, which provides medical imaging products and software to hospitals, doctors and other healthcare organizations.

GE also owns MediLab, which manufactures and sells high-tech imaging equipment.

GE announced plans in July for a partnership with Boston-headquartered imaging startup MediSight to offer high-quality high-density scanning solutions for medical imaging. 

MediSights has said that it has a $4.3 billion market cap. 

Kalogridgeises company has a strong track record with acquisitions. 

Its first acquisition, the Boston Optical Company in 2012, was for a $6.5 billion purchase of CTIA, a leading provider of 3-D printers and software.

GE has also acquired a number of companies in the optical industry, including Scanbeam, the company that manufactures the first 3D printer, and 3D Printing Technologies, a company that designs 3-d printer filament and additive manufacturing equipment. 

It is the first medical device company to acquire a large, publicly traded company. 

Analysts had expected the deal to close in early 2019. 

 “The acquisition of Boston Instruments is another important step in GE’s continuing effort to accelerate its growth, and is a natural fit for GE,” said Mark Rifkin, a senior analyst at Wedbush Securities. 

At GE, Kalogueridgeis has taken a tough approach to acquisitions, and has repeatedly criticized some of the companies most successful companies, including Google, which acquired Waymo, a self-driving car startup. 

On Wednesday, GE said it had acquired $1.6 billion in cash for $1 billion in stock.

The stock closed up 7.6% at $53.35. 

This post has been updated to include more details on the GE deal.

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