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Home » Pentagon exercises $150M contract options with Philips, GE Healthcare

Pentagon exercises $150M contract options with Philips, GE Healthcare

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Pentagon exercises $150M contract options with Philips, GE Healthcare

The U.S. Defense Dept. said it exercised options on contracts with GE (NYSE:GE) and Philips (NYSE:PHG) worth a total of $150 million.

The Pentagon pulled the trigger on a $77.2 million extension of its contract with Philips Medical Systems for patient monitoring systems and components.

It’s the 5th option year of the 9-year contract and extends the deal until March 29, 2015, the Defense Dept. said.

The military agency also re-upped its deal with GE, exercising a 1st, 2-year option worth $73.0 million for "digital imaging network-picture archive communication system," according to a press release.

The GE deal is now good through March 26m, 2016, according to the Defense Dept.

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