• 22 Jul 2024
• Admin
• News Article

Ge HealthCare to Acquire Clinical AI Business from Intelligent Ultrasound for $51 Million

Overview

GE HealthCare, a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, announced it has entered into an agreement to acquire Intelligent Ultrasound Group PLC’s (Intelligent Ultrasound) clinical artificial intelligence (AI) software business for total consideration of approximately $51 million.

Intelligent Ultrasound

• Intelligent Ultrasound is a leader in integrated AI-driven image analysis tools designed to make ultrasound smarter and more efficient. 
• GE HealthCare plans to incorporate these solutions across the ultrasound portfolio, strengthening its capabilities with technology that helps improve workflows and enhance ease-of-use for the benefit of clinicians and patients.

Words from CEO: GE HealthCare

• "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.”

ScanNav Assist AI Technology

• Intelligent Ultrasound has pioneered the ScanNav Assist AI technology, which powers SonoLystlive and SonoLyst X/IR, available on GE HealthCare’s Voluson Expert and Voluson Signature ultrasound devices. SonoLyst is also currently available on the Voluson SWIFT. 
• By acquiring this business, GE HealthCare also adds an AI innovation pipeline that serves to help advance future development and realize long-term efficiencies.

Addition of New Team

• GE HealthCare plans to welcome the team of research and development experts from Intelligent Ultrasound, who will help drive AI-enabled image recognition and innovation for GE HealthCare Women’s Health ultrasound devices as well as across the broader portfolio. 
• This agreement follows GE HealthCare’s acquisition of Caption Health in 2023, which added new capabilities in AI-enabled image guidance and AI development expertise to aid in early disease detection in other areas.

From the COO: Intelligent Ultrasound

• “I really believe that we are at the start of a wave of AI making a profound difference to medical imaging, and especially ultrasound,” said Nick Sleep, chief operating officer, Intelligent Ultrasound, who will join GE HealthCare. 
• “Becoming part of the GE HealthCare family will help speed the adoption of this technology and make ultrasound even easier for customers to use.”

Innovative Technologies

• These technologies are especially vital to relieving burdens placed on sonographers. 
• As exams are becoming more complex, 81 percent of hospitals report radiology technologist shortages, and 90 percent of sonographers report work-related musculoskeletal disorders due to workload and repetitive motions, among other factors. 
• Streamlined workflows and AI-enabled protocols can reduce manual processes, provide greater reproducibility between users, and allow clinicians to focus more on patient care.

This agreement bolsters GE HealthCare’s portfolio of AI-enabled devices— which presently tops the FDA’s list of AI-enabled device authorizations across medical technology companies—and supports the company’s precision care strategy to solve for inefficiencies in the clinical care workflow and improve patient care quality across the care pathway. With the sale of its clinical AI business, Intelligent Ultrasound will continue to operate with a renewed focus on its world-class, high-fidelity ultrasound simulation technology designed to enhance ultrasound education.

Consummation of the Transaction

• The consummation of the transaction is subject to customary closing conditions and is expected to close in Q4 2024. 
• Additional details of the transaction have not been disclosed publicly. GE HealthCare intends to fund this transaction with cash on hand.

About GE HealthCare

GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier.

About Intelligent Ultrasound

Intelligent Ultrasound is one of the world's leading 'classroom to clinic' ultrasound companies, specialising in real-time hi-fidelity virtual reality simulation for the ultrasound training market ('classroom') and artificial intelligence-based clinical image analysis software tools for the diagnostic medical ultrasound market ('clinic').