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…

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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 …

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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…

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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 …

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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…

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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…

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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…

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FDA clears on-device triage algorithms for critical care from GE HealthCare

The Critical Care Suite 2.1 showing PTX overlay and confidence level. [Image courtesy of GE HealthCare]GE HealthCare (Nasdaq: GEHC) + announced today that the FDA granted 510(k) clearance to its Critical Care Suite 2.1 with a pneumothorax (PTX) algorithm.

The industry-first clearance allows the suite to detect, notify and triage the diagnosis of PTX. Chicago-based GE HealthCare’s updated algorithm expands the suite’s on-device triage capabilities, according to a news release. It provides immediate notification of the presence or absence of PTX, plus an overlay display both on-device and in PACS.

GE HealthCare said its latest update displays an overlay in the area where the suite locates a PTX when detected. It assists with PTX localization and improves the speed and accuracy of PTX diagnosis. By hosting the Critical Care Suite on-device, GE HealthCare makes critical insights available at the point of care acro…

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GE HealthCare unveils AI-powered breast cancer detection suite

GE HealthCare (Nasdaq: GEHC) + announced today that it launched a new, all-in-one AI platform to support breast cancer detection.

The initial release of the GE HealthCare MyBreastAI Suite integrates three AI applications from iCad. That includes the ProFound AI for DBT, part of a platform that iCad today said demonstrates accurate breast cancer risk detection. It also integrates iCad’s SecondLook for 2D Mammography and PowerLook Density Assessment.

Chicago-based GE HealthCare says these apps support early detection, improve patient outcomes and enhance operational productivity.

ProFound AI for DBT provides information like lesion certainty of finding and case scores. These assist in prioritizing caseloads and clinical decision-making while reducing burnout.

SecondLook, a computer-aided detection (CAD) system, identifies and marks regions of interest on screening and diagnostic mammograms from GE Hea…

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GE HealthCare, Masimo collaborate on patient monitoring tech

The Portrait Mobile system. [Image courtesy of GE HealthCare]GE HealthCare (Nasdaq: GEHC) + and Masimo (Nasdaq: MASI) + today announced a joint agreement to integrate patient monitoring technologies.

The agreement aims to integrate Masimo Signal Extraction Technology (SET) pulse oximetry into GE HealthCare’s Portrait Mobile wireless, wearable patient monitoring solution.

Portrait Mobile, built as an internet of medical things (IoMT) platform, uses cloud-native technology. It provides an end-to-end experience for wearable, continuous monitoring. The FDA cleared Portrait Mobile in August of this year.

Integrating Masimo SET enables clinicians to leverage Masimo’s measure-through motion and low-perfusion oxygen saturation (SpO2) measurement technology. It allows for noninvasive detection and continuous monitoring of changes in patient status.

Uses of SET te…

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GE HealthCare stock rises on Street-beating Q3

GE HealthCare (Nasdaq: GEHC) + shares are up today on third-quarter results that came in ahead of the consensus forecast.

Shares of GEHC rose 6.3% at $64.14 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 1.1%.

The Chicago-based company posted profits of $375 million in the quarter. That equals 82¢ per share on sales of $4.82 billion for the three months ended Sept. 30, 2023. GE HealthCare recorded a 23% bottom-line slide on sales growth of 5.4%.

Adjusted to exclude one-time items, earnings per share came in at 99¢. That landed 9¢ ahead of expectations on Wall Street. GE HealthCare posted a narrow sales beat, topping projections of $4.8 billion in revenue.

The company maintains its revenue guidance for a range between 6% and 8% for the full year. It increased the low end of its adjusted EPS guida…

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