What You Should Know:
GE HealthCare (Nasdaq: GEHC) announced an agreement to acquire the clinical artificial intelligence (AI) software business of Intelligent Ultrasound Group PLC (Intelligent Ultrasound) for approximately $51M.
– The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions. GE HealthCare will finance the deal with existing cash reserves. The strategic acquisition signifies GE HealthCare’s dedication to advancing AI-powered ultrasound technology, aiming to improve workflows, reduce burdens on healthcare professionals, and ultimately deliver better patient care.
Intelligent Ultrasound’s AI Expertise to Enhance GE HealthCare’s Ultrasound Portfolio
Intelligent Ultrasound is a leader in integrated AI-driven image analysis tools designed to streamline and enhance ultrasound examinations. Notably, their ScanNav Assist AI technology powers the SonoLystlive and SonoLyst X/IR functionalities currently available on GE HealthCare’s Voluson™ Expert and Signature ultrasound devices.
Benefits of the Acquisition:
- Improved workflows and ease of use: GE HealthCare plans to integrate Intelligent Ultrasound’s AI solutions across its entire ultrasound portfolio, making ultrasound exams faster and more user-friendly for clinicians.
- Enhanced AI innovation: The acquisition includes the Intelligent Ultrasound R&D team, who will contribute to further AI-powered image recognition and innovation within GE HealthCare’s Women’s Health ultrasound devices and beyond.
- Reduced burden on sonographers: Streamlined workflows and AI-enabled protocols can alleviate the pressure on sonographers facing complex exams, staff shortages, and repetitive workload.
Aligning with GE HealthCare’s AI and Precision Care Strategy
This acquisition builds upon GE HealthCare’s commitment to AI in medical technology. They currently hold the leading position in AI-enabled device authorizations from the FDA. This move further supports their precision care strategy, aiming to address inefficiencies in clinical workflows and ultimately improve patient care quality.
Intelligent Ultrasound’s Continued Focus on Simulation Technology
Following the sale of its clinical AI business, Intelligent Ultrasound will refocus its efforts on its world-class, high-fidelity ultrasound simulation technology, designed to enhance ultrasound education and training.
“We are pleased to bring innovative technology from Intelligent Ultrasound into GE HealthCare’s Ultrasound portfolio, allowing us to fully integrate these solutions into our systems to help clinicians improve workflow, reduce repetitive tasks, and simplify exams,” said Phil Rackliffe, president and CEO of Ultrasound and Image Guided Therapies, GE HealthCare. “This technology and the experts who developed it will help enhance our portfolio of AI-enabled devices and accelerate our pace of development of next-generation AI tools.”
