Wipro GE Healthcare a single entity

This is a million-dollar chance lost for investment bankers who could have earned up to $48 m in fees, if the proposed deal between Indian telecom major Bharti Airtel and South Africa's MTN had materialized. Investment banks usually charge 0.5-2 % of the entire contract amount as advisory fees for the M&A transaction. While the exact amount those investment bankers could have earned from Bharti-MTN deal could not be ascertained, it could have been up to $ 48 m, based on the upper limit of potential fee income from the proposed $ 24 b deal. Bank of America, Merrill Lynch and Deutsche Bank were advising MTN, while Standard Chartered and Barclays advised Bharti Airtel.

Wipro GE Healthcare, a joint venture between Wipro and GE's healthcare business, today they announced that all the standalone units and plants of GE Healthcare in India would be integrated into a single entity and it will be called as Wipro GE Healthcare. This amalgamation will simplify the structure through consolidation of GE Healthcare's life sciences and medical diagnostics business units and X-Ray manufacturing plants.

Both Wipro and GE said that the planned move would help in effective management, resource mobilization and accelerating the development for GE Healthcare, the $17 b healthcare business of General Electric (GE), through Wipro GE Healthcare's large sharing network. As of now Wipro GE Healthcare contributes about 85 % of GE Healthcare's products and solutions in India.