GE HealthCare to Acquire Intelligent Ultrasound’s AI Business for $51 Million

GE HealthCare to Acquire Intelligent Ultrasound's AI Business for $51 Million

by John Conrad| Jul 18, 2024| NewsBrief

GE HealthCare announced today that it has entered into an agreement to acquire the clinical artificial intelligence (AI) software business of Intelligent Ultrasound Group PLC for approximately $51 million. The acquisition aims to integrate innovative AI-driven image analysis tools into GE HealthCare's ultrasound portfolio, with a focus on improving workflow efficiency and ease of use for clinicians.

The deal will bring Intelligent Ultrasound's ScanNav Assist AI technology under GE HealthCare's umbrella. This technology powers the SonoLyst suite of tools, which are already available on several of GE HealthCare's Voluson ultrasound devices. By acquiring this business, GE HealthCare also gains access to Intelligent Ultrasound's AI innovation pipeline and team of research and development experts.

Phil Rackliffe, president and CEO of Ultrasound and Image Guided Therapies at GE HealthCare, expressed enthusiasm about the acquisition, stating, "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."

The move comes at a crucial time for the medical imaging industry, which is facing significant challenges. Hospitals are reporting widespread shortages of radiology technologists, while sonographers are experiencing high rates of work-related musculoskeletal disorders due to their demanding workload. AI-enabled protocols and streamlined workflows could help address these issues by reducing manual processes and improving reproducibility between users.

This acquisition aligns with GE HealthCare's broader strategy of developing AI-enabled devices to improve clinical care workflows and patient care quality. It follows the company's 2023 acquisition of Caption Health, which added capabilities in AI-enabled image guidance for early disease detection.

The transaction is expected to close in Q4 2024, subject to customary closing conditions. GE HealthCare plans to fund the acquisition with cash on hand.

For Intelligent Ultrasound, the sale of its clinical AI business will allow the company to focus on its ultrasound simulation technology for education and training purposes.

As the healthcare industry continues to grapple with staffing shortages and increasing exam complexity, the integration of AI into medical imaging equipment promises to play a crucial role in supporting clinicians and improving patient care.

Read the press release

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