- The anticipated acquisition aligns to GE HealthCare’s precision
care strategy with the goal of strengthening the company’s digital
solutions across care pathways
- MIM Software provides AI-enabled image analysis and workflow
tools across multiple care areas, including oncology, urology,
neurology, and cardiology
- Today’s agreement reinforces GE HealthCare’s commitment to
integrate medical imaging products in order to deliver more
precise, connected and efficient care across disease states
GE HealthCare (Nasdaq: GEHC) today announced it has entered into
an agreement to acquire MIM Software, a global provider of medical
imaging analysis and artificial intelligence (AI) solutions for the
practice of radiation oncology, molecular radiotherapy, diagnostic
imaging, and urology at imaging centers, hospitals, specialty
clinics, and research organizations worldwide. GE HealthCare
expects to leverage MIM Software’s imaging analytics and digital
workflow capabilities across various care areas to accelerate
innovation and differentiate its solutions for the benefit of
patients and healthcare systems around the world.
Recognizing the industry transformation taking place as digital
innovation reshapes the experience of patients and providers, GE
HealthCare – a leading global medical technology, pharmaceutical
diagnostics, and digital innovator – is focused on developing smart
devices, aligned to disease states and enabled by digital. These
efforts are reflected in the company’s mission to make hospitals
more efficient, clinicians more effective, therapies more precise,
and patients healthier and happier.
MIM Software’s portfolio of innovative imaging solutions
provides a variety of beneficial features, including: the
integration of diagnostic images from multiple modalities into
treatment plans; automation to help reduce repetitive tasks and
manual interventions; quantitation and advanced processing in
diagnostic imaging and nuclear medicine to help determine therapy
response; and a platform to assist with Theranostics imaging and
dosimetry.
GE HealthCare expects to integrate MIM Software solutions into
its advanced visualization offerings to facilitate AI-based
segmentation and contouring as well as dosimetry analysis for
patients across their treatment journeys and in the growing fields
of radiology, molecular imaging, and radiation oncology.
“We are committed to providing comprehensive, connected devices
and digital solutions that enable providers to improve patient care
across multiple specialties,” says Peter Arduini, President &
CEO of GE HealthCare. “We expect our efforts to bring these two
complementary organizations 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.”
“We are excited by the prospect of joining GE HealthCare and
thrilled to share this exciting news,” adds Andrew Nelson, CEO of
MIM Software. “Over the past two decades, we have worked to develop
innovative vendor agnostic products and deliver quality services to
earn the trust of our customers – this will not change. As a part
of GE HealthCare, we anticipate developing new and increasingly
integrated digital solutions to meet our customers’ most complex
and pressing needs, today and into the future. Together, we will
build upon our shared legacies of enhancing patient care.”
As novel therapies become more widely available, providers rely
on advanced imaging, workflow and digital solutions to provide
critical information and help enable faster, more effective
treatment plans. With the agreement to acquire MIM Software, GE
HealthCare is working towards strengthening its focus and offerings
to support the broad practice of precision care across various
disease states and imaging practices, including Theranostics in
oncology for the treatment of advanced prostate cancer, streamlined
workflow solutions in radiation oncology to help simplify complex
cancer treatment plans, beta amyloid imaging in neurology for the
diagnosis and monitoring of Alzheimer’s patients, and myocardial
perfusion to diagnose coronary artery disease (CAD).
“Our anticipated acquisition of MIM Software will mark a key
moment in the evolution of our technology. 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,” shares Taha Kass-Hout, MD, MS, Chief
Technology Officer of GE HealthCare. "GE HealthCare is committed to
developing smart, AI-powered devices that cater to specific disease
states, thereby enabling clinicians to deliver more personalized
care. We expect the integration of MIM Software will also advance
our efforts in connecting data across care pathways. It is a leap
towards a future where healthcare is more precise, connected, and
efficient, with the goal of benefitting providers and patients
worldwide.”
Founded in 2003, MIM Software is headquartered in Cleveland,
Ohio, with additional offices in China and Belgium. The
consummation of the transaction is subject to customary closing
conditions, including regulatory approvals. Financial details of
the transaction have not been disclosed publicly. GE HealthCare
intends to fund this transaction with cash on hand. The Company
expects this transaction to be neutral to Adjusted EBITi 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 100 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 an $18.3 billion
business with 50,000 employees working to create a world where
healthcare has no limits.
Follow us on Facebook, LinkedIn, Twitter, Instagram, and
Insights for the latest news, or visit our website
https://www.gehealthcare.com/ for more information.
About MIM Software
MIM Software Inc. is headquartered in Cleveland, OH, with
international offices in Beijing, Chengdu, and Brussels.
MIM Software is committed to enhancing patient care by providing
customer-centered and innovative imaging solutions in Radiology,
Nuclear Medicine, Radiation Oncology, Molecular Radiotherapy,
Neuroimaging, and Cardiac Imaging.
MIM Software sells its products globally to imaging centers,
hospitals, specialty clinics, research organizations, and
pharmaceutical companies. The company’s products are used in
centers worldwide.
i See our last earnings release dated October 31, 2023 for the
definition of Adjusted EBIT.
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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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