GE Healthcare
(Nasdaq: GEHC)
The company today announced that it has agreed to acquire Intelligent Ultrasound Group's clinical AI software business.
Intelligent Ultrasound Group provides integrated, AI-driven image analysis tools designed to make ultrasound smarter and more efficient.
The transaction includes total cash consideration of approximately $51 million. GE Healthcare plans to incorporate the newly acquired solutions across its ultrasound portfolio, aiming to enhance capabilities by improving workflows and enhancing ease of use for clinicians and patients.
Intelligent Ultrasound Group's ScanNav Assist AI technology is featured in the company's SonoLystlive and SonoLyst X/IR. These solutions are available on GE HealthCare Voluson Expert and Voluson Signature ultrasound machines, as well as Voluson Swift. The acquisition of the business brings an AI innovation pipeline to GE HealthCare's ultrasound vertical, according to a news release.
GE Healthcare said it plans to hire a team of research and development experts for Intelligent Ultrasound. The company expects the group to drive AI-powered image recognition and innovation across its Women's Health ultrasound devices and broader portfolio. This follows the company's acquisition of Caption Health in 2023, which added AI-powered image guidance capabilities.
The company expects the transaction to close in the fourth quarter of 2024. It plans to fund the transaction with cash on hand.
“We are pleased to bring Intelligent Ultrasound's innovative technology to GE Healthcare's ultrasound portfolio, allowing us to fully integrate these solutions into our systems and help improve clinician workflow, reduce repetitive tasks and simplify exams,” said Phil Rackliff, president and CEO of GE Healthcare's Ultrasound and Image-Guided Therapy division. “This technology and the experts who developed it will enhance our portfolio of AI-enabled devices and help us accelerate the pace of development of next-generation AI tools.”
