GE Healthcare Archives - Medical Design Sourcing

GE HealthCare, Nvidia team up to bring AI to ultrasound

GE HealthCare (Nasdaq: GEHC) + announced that it utilized Nvidia technology to develop an AI-powered research model called SonoSAMTrack.

SonoSAMTrack combines a promptable foundation model for segmenting objects on ultrasound images called SonoSAM. It segments anatomies, lesions and other essential areas in ultrasound images. GE HealthCare also offers a streamlined version called SonoSAMLite.

The latest development builds on a long-term AI collaboration between GE HealthCare and Nvidia. Nvidia, a leader in AI computing, has worked with a number of medtech companies to incorporate AI into their technologies. Johnson & Johnson MedTech announced this week that it plans to accelerate and scale AI for surgery in partnership with Nvidia.

Asensus Surgical linked up with Nvidia last year to deliver novel clinical intelligence to surgeons in surgical robotics. Medtronic also partnered with Nvidia to enable an AI Acce…

GE HealthCare establishes foundation to advance access to care

GE HealthCare (Nasdaq: GEHC) + today announced the formation of a philanthropic entity to focus on advancing equitable access to healthcare.

The company established the GE HealthCare Foundation as a charitable organization, incorporated separately from GE HealthCare itself. It supports nonprofit organizations hoping to make healthcare more accessible, personal, human and flexible.

Ultimately, according to a news release, the Foundation wants to remove barriers blocking underserved communities from care. Its initial focus centers on improving maternal health outcomes around the globe.

“The GE HealthCare Foundation was born out of GE HealthCare’s legacy of delivering access to care, and a desire to advance health equity by reducing the limits and barriers faced by those in underserved communities,” said Danielle Halstrom, president of the GE HealthCare Foundation. “When we looked at where we could focus the Founda…

GE HealthCare, Mass General bring AI to imaging

GE HealthCare (Nasdaq: GEHC) + announced today that it plans to expand its AI partnership with Mass General Brigham.

The two began work on AI solutions after announcing a 10-year commitment in 2017. They set out to explore AI across a broad range of diagnostic and treatment paradigms through sustainable AI development.

In September, they announced an effort to co-develop an AI algorithm to increase operations effectiveness and productivity. Today’s announcement highlights a plan to integrate medical imaging foundation model into their AI research work. The partnership also features a strong focus on responsible AI practices.

Dr. Keith Dreyer, Mass General Brigham’s chief data science officer, said the “next wave of AI innovation” already reshaped the building, integration and use of AI. Dreyer says GE HealthCare and Mass General already helped accelerate the introduction of AI into a rang…

GE Healthcare’s AI models can predict patient responses to immunotherapy

GE HealthCare (Nasdaq: GEHC) + today announced data showing its AI models’ ability to accurately predict patient responses to immunotherapies.

The study collected clinical data to accurately forecast the effectiveness and toxicity of cancer immunotherapy. Data demonstrated accuracy between 70% and 80% with the AI models in a pan-cancer cohort. Investigators published outcomes in the Journal of Clinical Oncology Clinical Cancer Informatics (JCO CCI).

According to a news release, the authors believe the approach is the first attempt to design AI model capable of assessing the risks and benefits of immunotherapy using only electronic health record (EHR) data. Inputs already exist in medical records, like diagnosis codes and medication, providing an advantage for the AI models. The study drew just two features (smoking status and number of prior immune checkpoint inhibitor (ICI) drugs) from manually collected data. Read more

GE HealthCare, Biofourmis collab on at-home patient monitoring

GE HealthCare (Nasdaq: GEHC) + announced today that it entered into a collaboration with Biofourmis to enable safe, effective, accessible care in the home.

The two companies paired up to support the patient journey beyond the hospital setting. Their collaboration leverages combined expertise in innovative care-at-home solutions. They say hospital systems face increased costs of care due to workforce shortages, shrinking bed capacity and increasing readmission rates. At-home care can support recovery and safety while potentially reducing fall risks and hospital-acquired infections.

GE HealthCare and BioFourmis want to enable more patients to go home earlier. They hope to offer an alternative to facility-based care , driving healthy behaviors by managing patients remotely. According to a news release, insights from Biofourmis’ FDA-cleared, AI-guided algorithms can help deliver that personalized care.

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How GLP-1s tanked and reshaped the medtech stock market in 2023

Analysts weigh in on how the GLP-1 craze caused one of the biggest swings in the medtech stock market in recent years.

[Image courtesy of Nick Chong on Unsplash]In a tumultuous year for the medtech industry, promising clinical trial results on glucagon-like peptide 1 agonists (GLP-1s) created a seismic shift in the medtech stock market, triggering one of the largest dips in market value that analysts have seen in years.

While analysts said the medtech stock market performed well in 2023 – driven by strong market growth from the backlog of procedures that built up during the pandemic and more innovation and new product launches from companies – the fear of GLP-1s prevailed among investors, sending medtech stocks down significantly in the second half of the year, even as top executives sought to allay concerns.

The specter of GLP-1s such as Novo Nordisk’s Wegovy and Ozempic loomed large, casting doubt on medtech’s future trajectory at the end of the year. However, the stocks have almost fully recovered since then. Analysts predict a rebound in 2024, with diminishing head…

GE HealthCare prices $1B offering

GE HealthCare (Nasdaq: GEHC) + announced today that it priced an underwritten public offering worth an amount totaling more than $1 billion.

Chicago-based GE HealthCare priced the offering of 13 million shares of common stock at $82.25 per share. That translates to $80.605 per share, net of underwriting discount. At the price of $82.25 per share, the total equity value of the offering reaches nearly $1.07 billion.

The company is not selling any shares of common stock and won’t receive any proceeds from the sale of shares in the offering or from its debt-for-equity exchange.

Prior to the offering’s closing, GE expects to exchange the GE HealthCare shares for indebtedness of GE held by Morgan Stanley. Following this exchange, if consummated, Morgan Stanley intends to sell the GE HealthCare shares to the offering’s underwriters.

Morgan Stanley granted the underwriters an option to purchase …

GE HealthCare, MedQuest collab on tech for outpatient imaging

GE HealthCare (Nasdaq: GEHC) + announced that it partnered with MedQuest to optimize multi-site outpatient imaging networks.

MedQuest is a leading owner, operator and manager of outpatient diagnostic imaging facilities. The three-year collaboration provides access to GE HealthCare’s technology with infrastructure and resources from MedQuest. The companies believe MedQuest’s model with GE HealthCare’s offerings can help deploy emerging imaging solutions, including those supporting theranostics, into the ambulatory setting.

“Our commitment to customer-centric care is at the center of everything we do,” said MedQuest CEO Jason Howard. “Building upon our more than 25-year history as a leader in outpatient imaging, our partnership with GE HealthCare will position us at the forefront of innovative care delivery and product line development, enhancing the level of care for our patients and health…

GE HealthCare stock soars on Street-beating Q4, new 2024 guidance

GE HealthCare (Nasdaq: GEHC) + shares got a boost today on fourth-quarter results that came in ahead of the consensus forecast.

Shares of GEHC rose by nearly 10% to $79.95 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.5%.

The Chicago-based company posted profits of $403 million in the quarter. That equals 88¢ per share on sales of $5.21 billion for the three months ended Dec. 31, 2023.

GE HealthCare recorded a 27.3% bottom-line slide on sales growth of 5.4%.

Adjusted to exclude one-time items, earnings per share totaled $1.18. That landed 9¢ ahead of expectations on Wall Street. Sales also topped projections as analysts forecasted sales of $5.09 billion.

Particular standout performances from GE HealthCare’s segments included 5% growth in Patient Care Solutions and 4% growth in …

GE HealthCare to acquire AI imaging analysis company MIM Software

GE HealthCare (Nasdaq: GEHC) + announced today that it agreed to acquire AI and medical imaging analysis provider MIM Software.

GE HealthCare plans to fund the acquisition — for which financial terms were not disclosed — with cash on hand.

MIM Software provides AI-based software for radiation oncology, molecular radiotherapy, diagnostic imaging and urology. The Cleveland-based company’s offerings span imaging centers, hospitals, specialty clinics and research organizations worldwide.

Chicago-based GE HealthCare expects to leverage MIM’s imaging analytics and digital workflow capabilities across various care areas. It aims to accelerate innovation and differentiate solutions for the benefit of patients and healthcare systems.

According to a news release, the MIM Software portfolio of imaging solutions offers GE HealthCare a variety of beneficial features. The company highlighted the integration…

AdvaMed picks GE HealthCare CEO Peter Arduini as new chair, forms medical imaging division

Peter Arduini is now the chair of the AdvaMed board of directors. [Photo courtesy of GE HealthCare]AdvaMed today announced the appointment of GE HealthCare CEO Peter Arduini as its board chair as it establishes a medical imaging division.

Arduini takes over the board chair spot from former Johnson & Johnson MedTech head Ashley McEvoy. McEvoy resigned from her position at J&J in October and subsequently stepped down as AdvaMed chair less than a year into a two-year term.

“The timing of Peter Arduini’s election as our new chair couldn’t be better,” AdvaMed President and CEO Scott Whitaker said in a news release. “His leadership of GE HealthCare, a global leader in medical imaging, pharmaceutical diagnostics and digital solutions, will provide strategic insight and direction to AdvaMed as we work to ensure an aligned and inclusive focus across companies in every sector of medtech.”

As the medtech advocacy organization named Arduini to lead…

GE HealthCare, AirStrip partner on patient monitoring, cardiac data visualization

GE HealthCare (Nasdaq: GEHC) + announced today that it entered into a joint commercialization agreement with AirStrip to distribute patient monitoring technology.

AirStrip, a member of the Nantworks group of AI-driven companies, develops cardiology and patient monitoring solutions. These technologies offer data visualization technology through a proprietary, native mobile application. Clinicians can see clinical data on mobile devices and on the web with the AirStrip technology.

Under the agreement, GE HealthCare now serves as the exclusive distributor of AirStrip cardiology and patient monitoring solutions in the U.S. The deal offers data visualization that healthcare systems can purchase together.

GE HealthCare says that pairing its technology with AirStrip’s allows for remote collaboration. It enables clinicians to view patient data from a distance and view multiple patients on one screen by level of pr…