GE HealthCare to Acquire Intelligent Ultrasound Group's Clinical AI Software Biz for $51 Mn

GE HealthCare plans to integrate the team of research and development experts from Intelligent Ultrasound into its operations.

GE HealthCare has announced its agreement to acquire Intelligent Ultrasound Group PLC's (Intelligent Ultrasound) clinical artificial intelligence (AI) software business for approximately $51 million.

Intelligent Ultrasound is a leader in integrated AI-driven image analysis tools designed to enhance ultrasound efficiency and intelligence.

GE HealthCare plans to integrate these solutions across its ultrasound portfolio, aiming to improve workflows and simplify exams for clinicians and patients.

Strategic Integration

Phil Rackliffe, president and CEO of Ultrasound and Image-Guided Therapies at GE HealthCare, expressed enthusiasm about the acquisition, saying, "We are pleased to bring innovative technology from Intelligent Ultrasound into GE HealthCare's Ultrasound portfolio. This integration will help clinicians improve workflow, reduce repetitive tasks, and simplify exams."

Rackliffe highlighted that Intelligent Ultrasound's technology and expertise would bolster GE HealthCare's portfolio of AI-enabled devices and accelerate the development of next-generation AI tools.

Intelligent Ultrasound has pioneered the ScanNav Assist AI technology, which powers products like SonoLystlive and SonoLyst X/IR. These technologies are available on GE HealthCare's Voluson Expert and Voluson Signature ultrasound devices and are currently featured on the Voluson SWIFT.

By acquiring this business, GE HealthCare also gains access to an AI innovation pipeline that promises to advance future developments and realize long-term efficiencies.

GE HealthCare plans to integrate the team of research and development experts from Intelligent Ultrasound into its operations. These experts will drive AI-enabled image recognition and innovation for GE HealthCare's Women's Health ultrasound devices and the broader portfolio.

This agreement follows GE HealthCare's acquisition of Caption Health in 2023, which added AI-enabled image guidance capabilities and AI development expertise to aid in early disease detection.

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

Addressing Sonographer Shortages

These AI technologies are vital in relieving burdens placed on sonographers. With exams becoming more complex, 81% of hospitals report radiology technologist shortages, and 90% of sonographers report work-related musculoskeletal disorders due to workload and repetitive motions.

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 acquisition 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.

It supports the company's precision care strategy to address 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 high-fidelity ultrasound simulation technology designed to enhance ultrasound education.

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 publicly disclosed. GE HealthCare intends to fund this transaction with cash on hand.