July 19, 2024 — GE Healthcare announced it has signed an agreement to acquire Intelligent Ultrasound Group PLC's clinical artificial intelligence (AI) software business for total consideration of approximately $51 million. Intelligent Ultrasound is a leader in integrated AI-driven image analytics tools designed to make ultrasound smarter and more efficient. GE Healthcare plans to incorporate these solutions across its ultrasound portfolio, enhancing capabilities with technology that helps improve workflow and enhance ease of use to benefit clinicians and patients.
“We are pleased to bring Intelligent Ultrasound's innovative technology to the GE Healthcare ultrasound portfolio and fully integrate these solutions into our systems to help clinicians improve workflow, reduce repetitive tasks and simplify exams,” said Phil Rackliff, president and CEO, Ultrasound and Image-Guided Therapy, GE Healthcare. “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.”
Intelligent Ultrasound pioneered the ScanNav Assist AI technology that powers SonoLyst.live GE Healthcare also offers SonoLyst X/IR, which is available on its Voluson Expert and Voluson Signature ultrasound machines. SonoLyst is now also available on Voluson SWIFT. By acquiring this business, GE Healthcare is also adding to its AI innovation pipeline to help drive future developments and deliver long-term efficiencies.
GE Healthcare will welcome Intelligent Ultrasound's team of research and development experts who will drive AI-enabled image recognition and innovation across GE Healthcare's women's health ultrasound devices as well as its broader portfolio. The deal follows GE Healthcare's acquisition of Caption Health in 2023, which added new capabilities to its AI-enabled image guidance and AI development expertise to aid in early disease detection in other areas.
“We believe we are at the beginning of a wave of AI that will revolutionize medical imaging, particularly diagnostic ultrasound,” said Nick Sleep, chief operating officer of Intelligent Ultrasound, who will join GE Healthcare. “Becoming part of the GE Healthcare group will accelerate the adoption of this technology and make diagnostic ultrasound even more accessible for our customers.”
These technologies are especially important to reduce the burden on ultrasound technicians, as exams become more complex, with 81% of hospitals reporting a shortage of radiologists.1 Additionally, 90% of ultrasound technicians report work-related musculoskeletal disorders due to factors such as workload and repetitive movements.2 Streamlined workflows and AI-enabled protocols reduce manual processes and improve user-to-user reproducibility, allowing clinicians to focus more on patient care.
The deal strengthens GE Healthcare's portfolio of AI-enabled devices, which currently tops the FDA's AI-enabled device clearance list across medical technology companies, and supports the company's precision care strategy to solve inefficiencies in clinical care workflows and improve the quality of patient care across the care pathway. With the sale of its clinical AI business, Intelligent Ultrasound will continue with a renewed focus on world-class, high-fidelity ultrasound simulation technology designed to enhance ultrasound education.
The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2024. Details of the transaction were not disclosed. GE Healthcare intends to fund the transaction with cash on hand.
For more information, visit www.gehealthcare.com.
References:
1 “A national radiology staffing shortage?” AHEC Online, September 27, 2021.
2 Occupational Musculoskeletal Disorders in Sonography, Society of Diagnostic Medical Ultrasound, Susan Murphy, https://www.sdms.org/docs/default-source/Resources/work-related-musculoskeletal-disorders-in-sonography-white-paper.pdf?sfvrsn=10
