- With the addition of MIM Software, GE HealthCare aims to
provide clinicians and healthcare systems with increasingly
integrated and automated solutions, meeting the evolving needs of
providers, and reinforcing a shared legacy of advanced patient care
solutions
- Portfolio additions include AI-enabled image analysis and
workflow tools spanning multiple care areas, including oncology,
urology, neurology, and cardiology
Less than three months after signing an agreement to acquire MIM
Software Inc. (“MIM Software”), GE HealthCare Technologies Inc.
(“GE HealthCare” or the “Company") (Nasdaq: GEHC) is proud to
announce the acquisition’s close and addition of MIM Software’s
imaging analytics and digital workflow solutions as a part of its
leading global medical technology, pharmaceutical diagnostics, and
digital portfolio. The availability of these offerings – including
the MIM SurePlan and MIM Symphony families, MIM Maestro, MIM
Encore, and more – is in alignment with GE HealthCare’s precision
care strategy, which aims to deliver innovative digital solutions
across care pathways for more precise, connected, and efficient
care across disease states.
"We are thrilled to welcome MIM Software, known for driving
innovation in multimodal image analytics and workflow, to our
global GE HealthCare team,” said Peter Arduini, President &
CEO, GE HealthCare. “These new capabilities align with our
precision care strategy to personalize care, enhance hospital
efficiency and clinician effectiveness, and appeal to new and
existing GE HealthCare and MIM Software users who see this as an
opportunity to better serve patients and help improve
outcomes."
As patient procedures grow in number and complexity throughout a
variety of care areas, today’s staffing shortages and other
clinical challenges are expected to become more significant. The
increasing availability of novel therapies and pace of change in
healthcare further challenge healthcare leaders to drive
operational efficiency, simplify patient management, and provide
precise and accurate quantitative analysis of imaging data amid
growing demand.
These conditions make the provision of critical information from
advanced imaging, workflow and digital solutions even more
essential to help enable faster, more effective treatment plans and
healthcare systems.
The addition of MIM Software to GE HealthCare’s portfolio will
strengthen the Company’s response to provider needs, supplying
established solutions that are designed to help simplify,
streamline, and automate essential tasks to enhance workflows. This
includes continuing to grow MIM Software’s offerings for end-to-end
standardization across large healthcare system fleets.
The result is an innovative offering of digital solutions that
provide a variety of beneficial features across care areas:
Oncology: MIM Software's clinical
tools – paired with GE HealthCare's imaging solutions – bring
improved flexibility, automation, and efficiency to clinicians.
This includes more streamlined processing, structured reporting,
fast and high-quality contouring, advanced image fusion, dosimetry
capabilities, easier IT integration, and remote access – helping to
boost healthcare productivity and promote personalized patient
care.
There is also special focus on radiation
therapy and Theranostics.
Radiation therapy – a type of treatment given
alone or in combination with surgery and/or chemotherapy – is
administered to nearly two-thirds of all cancer patients.i The
addition of MIM Software’s radiation oncology solutions to GE
HealthCare’s portfolio is designed to provide clinicians with
complementary interoperable solutions that can help simplify
complex planning, delivering high quality while helping to reduce
time to treatment.
In Theranostics, the combined portfolio aims
to enhance medical research and clinical workflows to help
clinicians improve patient stratification and selection, response
prediction, and support the development of new treatments,
including alpha therapies.
Urology: GE HealthCare’s ultrasound
guidance technology combined with MIM Software’s post-processing
and fusion expertise yield’s an integrated suite of prostate fusion
solutions with the ability to address needs across the care pathway
to support a patient's personal prostate cancer journey. This
already includes GE HealthCare’s bkFusion,ii an MRI-ultrasound
fusion prostate biopsy solution powered by MIM Software technology.
bkFusion helps clinicians deliver effective detection rates,iii and
provides fast and simple workflows designed for urologists, and
flexibility to choose from a range of options for transperitoneal
and transrectal prostate biopsies. Additionally, MIM Symphony
provides solutions across precision prostate cancer management –
helping radiologists review and report prostate MRI, and urologists
and radiation oncologists plan ablation and brachytherapy
treatments.
Neurology: GE HealthCare, already
providing a range of solutions for neuro degenerative diseases –
like Alzheimer’s Disease, Parkinson’s Disease, and more – will
enhance its digital workflows with MIM Software’s neuro imaging
products. This includes MIMneuro, which offers quantification
solutions for dopamine transporter imaging and amyloid imaging.
Collectively, this joint portfolio aims to boost clinicians’
confidence in image interpretation to support diagnosis, treatment
planning, and monitoring, while supporting consistent and efficient
workflows.
Cardiology: GE HealthCare has a broad
presence in the cardiology care area, from imaging, patient care
solutions, ultrasound, surgery, and radiopharmaceuticals in both
PET and SPECT imaging. MIM Software’s cardiac solutions offer
additional tools with advanced reconstruction and quantitative
analysis for both PET and SPECT.
“Today marks an exciting new chapter for our team and
technology,” adds Andy Nelson, CEO, MIM Software at GE HealthCare.
“For the past two decades, our commitment to innovative,
vendor-neutral solutions and high-quality services has earned the
trust of our customers -- a principle that remains unchanged. As
part of GE HealthCare, we look forward to expanding the development
of advanced digital solutions and addressing complex needs today
and in the future. Together, we'll strive to continue our shared
legacy of enhancing patient care. We remain committed to precision
care, spanning various disease states and imaging practices, from
radiology to molecular imaging to radiation oncology and
beyond."
For more information on GE HealthCare’s MIM Software offerings
and full portfolio of solutions, please visit MIMSoftware.com. GE
HealthCare will also showcase MIM Software solutions at the
following global conferences:
- European Association of Urology in Paris, France;
- American Urological Association in San Antonio, Texas;
- European Society for Radiotherapy and Oncology (ESTRO) in
Glasgow, United Kingdom;
- American Society of Clinical Oncology (ASCO) in Chicago,
Illinois; and
- Society of Nuclear Medicine and Molecular Imaging (SNMMI) in
Toronto, Canada.
Financial details of the transaction have not been disclosed
publicly. GE HealthCare funded this transaction with cash on hand.
The Company expects this transaction to be neutral to Adjusted
EBITiv,v in year one and accretive thereafter.
Forward-Looking Statements
This release contains forward-looking statements. These
forward-looking statements might be identified by words, and
variations of words, such as “will,” “expect,” “may,” “would,”
“could,” “plan,” “believe,” “anticipate,” “intend,” “estimate,”
“potential,” “position,” “forecast,” “target,” “guidance,”
“outlook,” and similar expressions. These forward-looking
statements may include, but are not limited to, statements about
the transaction, the completion and expected results of the
transaction, and GE HealthCare Technologies Inc.’s (the
“Company’s”) performance, growth opportunities, and strategy. These
forward-looking statements involve risks and uncertainties, many of
which are beyond the control of the Company. Factors that could
cause the Company’s actual results to differ materially from those
described in its forward-looking statements include, but are not
limited to, the conditions to the completion of the transaction may
not be satisfied; closing of the transaction may not occur or may
be delayed; the Company may be unable to achieve the anticipated
benefits of the transaction; operating costs and business
disruptions (including, without limitation, difficulties in
maintaining relationships with employees, customers, and suppliers)
may be greater than expected; the Company may assume unexpected
risks and liabilities; and completing the transaction may distract
the Company’s management from other important matters. Other
factors that may cause such a difference also include those
discussed in the "Risk Factors" section of the Company’s Annual
Report on Form 10-K filed with the U.S. Securities and Exchange
Commission and any updates or amendments it makes in future
filings. There may be other factors not presently known to the
Company or which it currently considers to be immaterial that could
cause the Company’s actual results to differ materially from those
projected in any forward-looking statements the Company makes. The
Company does not undertake any obligation to update or revise its
forward-looking statements except as required by applicable law or
regulation.
About GE HealthCare Technologies Inc.
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. Serving patients and providers for more than 125 years, GE
HealthCare is advancing personalized, connected, and compassionate
care, while simplifying the patient’s journey across the care
pathway. Together our Imaging, Ultrasound, Patient Care Solutions,
and Pharmaceutical Diagnostics businesses help improve patient care
from diagnosis, to therapy, to monitoring. We are a $19.6 billion
business with approximately 51,000 colleagues working to create a
world where healthcare has no limits.
Follow us on LinkedIn, X (formerly Twitter), and Insights for
the latest news, or visit our website https://www.gehealthcare.com/
for more information.
i Chen HHW, Kuo MT. Improving radiotherapy in cancer treatment:
Promises and challenges. Oncotarget. 2017 Jun 8;8(37):62742-62758.
doi: 10.18632/oncotarget.18409. PMID: 28977985; PMCID: PMC5617545.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5617545/ ii bkFusion
is not available in all countries. Ask your local representative
about your options. iii Immerzeel J., Israël B., Bomers J., et al.
Multiparametric Magnetic Resonance Imaging for the Detection of
Clinically Significant Prostate Cancer: What Urologists Need to
Know. Part 4: Transperineal Magnetic Resonance–Ultrasound Fusion
Guided Biopsy Using Local Anesthesia. Journal of European Urology.
2021. iv See our latest earnings release dated February 6, 2024 for
the definition of Adjusted EBIT. v Non-GAAP finance measure
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version on businesswire.com: https://www.businesswire.com/news/home/20240401872496/en/
GE HealthCare Media Contact: Margaret Steinhafel M +1 608
381 8829 margaret.steinhafel@gehealthcare.com
GE HealthCare Investor Contact: Carolynne Borders M +1
631 662 4317 carolynne.borders@gehealthcare.com
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