GE's Views Healthcare as Next Acquisition Frontier By James Passeri | May 13, 2016 | 04:42 PM EDT

In General Electric's (GE - Get Report) quest to expand its industrial operations through bolt-on acquisitions, it looks like healthcare could be the next frontier.

On Friday, the Fairfield, Conn.-based manufacturer announced it has signed a two-year partnership with Uppsala BIO -- a nonprofit foundation associated with the eponymous university -- to search for new equipment and technology to expand GE's Life Sciences division.

Of GE's healthcare businesses, which raked in $4.2 billion in the firs quarter, up 3% year over year, its Life Sciences unit pulled in about a quarter of total sales. (GE stock is held in Jim Cramer's Action Alerts PLUS charitable trust.)

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