Byline: Terry Brennan
GE Medical Systems Technologies Inc. beat off a determined challenge by Misys plc of the U.K. for the remaining assets of bankrupt MedicaLogic/Medscape Inc. and ended up winning the hotly contested auction with a $35.25 million offer.
Judge Peter Walsh in U.S. Bankruptcy Court in Wilmington, Del., approved Waukesha, Wis.-based GE Medical's bid March 19 after Monday's marathon auction. Up for bid were the assets and assumed debt of MedicaLogic's remaining digital records unit, said the debtor's attorney, Conor Reilly, at Gibson, Dunn & Crutcher llp in New York.
MedicaLogic hopes to complete the sale March 25, Reilly said.
Hillsboro, Ore.-base …