The acquisition aligns with GE HealthCare's strategy to integrate and innovate its digital solutions across care pathways, with a focus on delivering more precise and efficient patient care.
GE HealthCare is set to acquire MIM Software, a global medical imaging software provider specialising in AI-driven image analysis and workflow tools for various medical specialities. This strategic move aims to fortify GE HealthCare's precision care portfolio with advanced artificial intelligence (AI) and analytics capabilities.
MIM Software has garnered recognition for its AI-driven image analysis tools catering to medical specialities such as oncology, neurology, and cardiology. The acquisition aligns with GE HealthCare's strategy to integrate and innovate its digital solutions across care pathways, with a focus on delivering more precise and efficient patient care.
The acquisition positions MIM Software's technology as a complementary addition to GE HealthCare's existing advanced visualisation offerings. This includes AI-based segmentation, contouring, and dosimetry analysis, providing a comprehensive suite of tools throughout the patient treatment process.
Peter Arduini, president & CEO of GE HealthCare, commenting on the company’s aim of transforming patient care, said, "We expect our efforts to bring these two complementary organisations and innovative product portfolios together to strengthen our capabilities as a leading provider of integrated imaging systems, analytics, and advanced digital workflows across several care areas and pathways – including Theranostics, radiation oncology, urology, neurology and cardiology. Now and in the future, we are working to transform patient care."
The transaction, subject to customary closing conditions and regulatory approvals, is expected to be neutral to GE HealthCare's Adjusted EBIT (earnings before interest and taxes) in the first year and progress after that. While the financial details remain undisclosed, GE HealthCare plans to fund the acquisition with cash on hand.
This strategic move comes at a time when healthcare providers increasingly rely on advanced imaging and digital solutions to inform and expedite treatment plans.
GE HealthCare aims to support the broad practice of precision care across various disease states and imaging practices, encompassing Theranostics in oncology and streamlined workflow solutions in radiation oncology.
Emphasising the potential for more personalised care through smart, AI-powered devices and the integration of data across care pathways, Taha Kass-Hout, MD, CS, CTO at GE HealthCare, noted how the company is incorporating technologies.
He said, "By integrating MIM Software's cutting-edge imaging analytics and AI-driven solutions with GE HealthCare's advanced medical technology, we are not just expanding our capabilities, but joining together to embrace the possibilities of precision care. This intended merger is a fusion of innovative visions, aimed at evolving the way we detect, treat, and manage disease."
MIM Software, founded in 2003 and based in Cleveland, Ohio, has established a global presence with additional offices in China and Belgium.
The acquisition promises to be significant in the evolution of GE HealthCare's technology and capabilities, furthering the company's commitment to advancing precision care through strategic partnerships and innovative solutions.
In another development, in November 2023, GE HealthCare unveiled MyBreastAI Suite, a platform of AI applications designed to empower clinicians in breast cancer detection and enhance workflow productivity.
This suite integrates three AI applications from iCAD, including ProFound AI for DBT, SecondLook for 2D Mammography, and PowerLook Density Assessment, promising early detection and improved patient outcomes.
In September earlier, the company secured a $44 million grant from the Bill and Melinda Gates Foundation to facilitate the development of user-friendly, AI-assisted ultrasound imaging auto-assessment tools. This development is particularly significant within the domains of maternal and fetal care.
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