Incorporated: 1942 as Orthopedic Equipment Company (OEC) GE Acquisition In August, 1999, the company announced that it had signed a definitive agreement for OEC to merge its operations with GE Medical, Milwaukee. The transaction is subject to OEC shareholder approval, government approval and other customary conditions, but is expected to close around year-end. The boards of directors of both GE and OEC have approved the merger.