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GE Healthcare Completes Acquisition of MIM Software, Strengthening Product Portfolio to Support Precision Medicine

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GE Healthcare Completes Acquisition of MIM Software, Strengthening Product Portfolio to Support Precision Medicine
Latest company news about GE Healthcare Completes Acquisition of MIM Software, Strengthening Product Portfolio to Support Precision Medicine

GE Healthcare Completes Acquisition of MIM Software, Strengthening Product Portfolio to Support Precision Medicine

latest company news about GE Healthcare Completes Acquisition of MIM Software, Strengthening Product Portfolio to Support Precision Medicine  0

  • Through the acquisition of MIM Software, GE Healthcare will provide clinicians and medical systems with more complete and automated solutions to meet the changing needs of medical institutions and continuously optimize advanced patient diagnosis and treatment solutions.
  • The new product portfolio includes artificial intelligence image analysis and workflow tools covering oncology, urology, neurology and cardiology.

Chicago, April 1, 2024 - Within three months of signing the agreement to acquire MIM Software (Mingwei Vision Medical Software), GE Healthcare (NASDAQ: GEHC) officially announced the completion of the acquisition, incorporating MIM Software's image analysis and digital workflow solutions into its world-leading medical technology, diagnostic drugs and digital product portfolio. Solutions including MIM SurePlan and MIM Symphony series, MIM Maestro, MIM Encore, etc. are highly consistent with GE Healthcare's precision medicine strategy and will provide more accurate, more connected and more efficient medical services for all types of patients.

 

“MIM Software is renowned for driving innovation in multimodality imaging analysis and workflows, and we are excited to welcome it to the GE Healthcare family,” said Peter Arduini, President and CEO of GE Healthcare. “These new solutions align with our precision medicine strategy to advance personalized medicine, make hospitals more efficient, and clinicians more effective, and will help new and existing GE Healthcare and MIM Software customers better serve their patients and improve outcomes.”

 

At present, with the increasing number of patient surgeries in various clinical fields, the increasing complexity of surgical procedures, and the increasing clinical challenges such as staff shortages, the pace of new therapies and new changes in the industry have made changes imminent for healthcare leaders, who urgently need to improve operational efficiency, simplify patient management, and provide accurate quantitative analysis of imaging data to meet the growing demand.

 

These current situations make advanced imaging, efficient workflows, and digital solutions more important in providing key information, helping to create faster and more effective treatment plans and medical systems.

 

GE Healthcare's acquisition of MIM Software will further strengthen GE Healthcare's ability to meet the needs of medical institutions and optimize workflows through mature solutions to simplify and automate tasks. This also includes continuing to promote MIM Software's products in order to achieve end-to-end standardization in various large medical systems.

 

GE Healthcare and MIM Software will create innovative digital solutions to benefit multiple clinical fields:

 

Oncology: MIM Software's clinical tools combined with GE Healthcare's imaging solutions will provide clinicians with greater flexibility, improved automation, and more efficient diagnosis and treatment. These include more streamlined processing, structured reporting, fast and high-quality contouring, advanced image fusion, dose analysis capabilities, easier IT integration and remote access, all of which help improve medical efficiency and promote personalized diagnosis and treatment.

 

There are some special focus areas for radiation therapy and care integration:

 

Radiotherapy can be used alone or in combination with surgery or chemotherapy. Almost two-thirds of cancer patients receive radiation therapy. The addition of MIM Software’s radiation oncology solutions to GE Healthcare’s portfolio will provide clinicians with complementary, connected solutions that simplify complex care planning while providing high-quality treatment and shortening treatment time.

 

In terms of care integration, the combined portfolio will enhance medical research and clinical workflows, helping clinicians improve patient stratification and selection, response prediction, and support the development of new therapies including Alpha Therapy.

 

Urology: GE Healthcare’s ultrasound guidance technology combined with MIM Software’s post-processing and fusion skills have resulted in an integrated suite of prostate fusion solutions to meet the needs of the entire prostate cancer care continuum. This includes GE Healthcare’s bkFusion, a prostate biopsy solution that fuses MRI and ultrasound based on MIM Software technology. bkFusion not only helps clinicians improve detection rates, provides urologists with a fast and simple workflow, but also provides flexible options for a range of biopsies, including peritoneal and transrectal prostate. In addition, MIM Symphony provides solutions across the entire prostate cancer precision management cycle, helping radiologists review and report prostate MRI results while helping urologists and radiation oncologists better plan ablations and brachytherapy.

latest company news about GE Healthcare Completes Acquisition of MIM Software, Strengthening Product Portfolio to Support Precision Medicine  0

Neuro: GE Healthcare already provides a range of solutions for neurodegenerative diseases such as Alzheimer's and Parkinson's, and will enhance its digital workflow through MIM Software's neuroimaging products. Take MIMneuro as an example, it provides quantitative solutions for dopamine transporter imaging and amyloid imaging. In summary, the integrated solution will enhance clinicians' confidence in image interpretation while supporting a coherent and efficient workflow, and better support disease diagnosis, treatment planning and disease monitoring.

 

Cardiology: Whether it is medical imaging, patient care, ultrasound, surgical links, or radiopharmaceuticals in PET and SPECT imaging, GE Healthcare's business covers all aspects of cardiology diagnosis and treatment. MIM Software's cardiac solution also provides advanced reconstruction and quantitative analysis tools for PET and SPECT detection.

 

“Today marks an exciting new chapter for our team and technology,” said Andy Nelson, CEO of GE Healthcare MIM Software. “Over the past two decades, we have earned the trust of our customers with innovative, vendor-neutral solutions and high-quality services, and that will not change. As part of GE Healthcare, we look forward to expanding our advanced digital solutions to meet the complex needs of today and tomorrow. Together, we will continue to build on our shared strengths in patient care while advancing precision medicine across multiple disease areas and imaging practices, including radiology, molecular imaging, radiation oncology and more.”

 

For more information on GE Healthcare MIM Software’s products and complete solutions portfolio, visit MIMSoftware.com.

 

Financial details of the acquisition were not disclosed publicly. GE Healthcare financed the transaction with cash reserves. The company expects the transaction to be neutral to adjusted EBITDA in the first year, but accretive thereafter.

Pub Time : 2024-05-31 15:14:21 >> News list
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