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GE Healthcare donates $1M in ultrasound and monitoring equipment to Ukraine

GE HealthCare announced today that it made a donation of ultrasound and monitoring equipment worth $1 million to Ukraine.

The company said it made the donation in support of the country as the ongoing war takes a toll on its healthcare system. The donation includes patient monitors and handheld and stationary ultrasound devices, according to a news release.

GE HealthCare said Ukraine can use its monitoring technology for monitoring vital signs at bedside in the general ward and ICUs. Ultrasound devices can cover various clinical uses, including emergency care, obstetrics and gynecology. Ukrainians can use them both inside and outside the hospital.

GE’s efforts to aid Ukraine

The company’s latest donation adds to a $4 million equipment donation made in March 2022. The GE Foundation also donated $500,000 to the International Rescue Committee (IRC) and Airlink. That provided relief to neighboring countries welcoming refugees from Ukraine. The GE…

GE HealthCare investing $80M in contrast media ingredients plant in Norway

GE Healthcare says its contrast media products are used in more than 100 million procedures globally every year. [Image courtesy of GE Healthcare]GE Healthcare today announced it is investing $80 million to expand contrast media production capacity in Norway.

The investment will go toward increasing manufacturing capacity by 30% at its active pharmaceutical ingredients site in Lindesnes, Norway. It will create around 100 new jobs as part of GE Healthcare’s commitment to addressing significant future global demand for iodinated contrast media, used in X-ray and computed tomography (CT) procedures around the world.

GE Healthcare’s announcement comes after it announced a long-term agreement with Chile-based mining company SQM to secure its supply of iodine for vital imaging agents.

Iohexol and iodixanol APO are used in over 100 million patient doses of GE iodinated contrast media annually to enhance the visualization of organs, blood …

GE offering $8.25 billion in notes to help finance GE HealthCare spinoff

GE (NYSE:GE) announced today that it is offering $8.25 billion in senior notes in connection with its planned spinoff of GE HealthCare.

The spinoff remains on track to take place during the first week of January 2023.

It’s common for companies spinning out of larger parents to start out with debt. For example, spine and dental tech company ZimVie (Nasdaq:ZIMV) started out with $500 million in debt when it spun out of Zimmer Biomet (NYSE:ZBH) early this year.

GE said the notes will be senior unsecured obligations of GE HealthCare and will enable GE to pay down existing debt. Just on Nov. 8, GE announced a tender offer to buy up to $7 billion in its debt securities. After that, it expected new GE HealthCare debt securities to pay down its outstanding debt over time.

The new stand-alone medtech giant intends to maintain a strong investment-grade credit rating.

In a Form 10 registration statement filed with the SEC last month, GE said that GE H…

GE posts mixed-bag Q3 results as GE HealthCare spinoff remains on track

GE (NYSE: GE) this week posted third-quarter results that beat the revenue consensus on Wall Street but missed on earnings.

GE HealthCare spinoff plans remain on track for an early January 2023 completion.

The Boston-based company reported a loss of -21¢ per share for the three months ended Sept. 30, 2022, versus a profit of $1.08 during Q3 2021. Sales were up 2.8% year-over-year to nearly $19.1 billion.

Adjusted to exclude one-time items, earnings per share were 35¢, 11¢ behind The Street, where analysts were looking for sales of $18.6 billion.

GE HealthCare reported $4.6 billion in sales, a 6.3% gain from Q3 2021. Net profits came in at $712 million, representing a 1.1% gain year-over-year.

“Our planned spin-offs remain on track with GE HealthCare ready to go in the first week of January. With leading positions in growing, critical sectors, we are excited about our plans to launch three independent, investment-grade companies set up…

GE Healthcare, AMC Health partner on remote monitoring

GE Healthcare announced today that it partnered with AMC Health to offer remote patient monitoring (RPM) as a virtual care solution.

The collaboration allows clinicians to offer RPM virtually to extend patient care outside the hospital to the home environment. They aim to combine GE Healthcare’s acute patient monitoring capabilities in the hospital with AMC’s expertise in RPM.

According to a news release, GE Healthcare and AMC plan to leverage an FDA-cleared platform with analytics. They expect it to extend the continuum of non-acute care for patients after hospital discharge.

“Pairing AMC Health’s remote patient monitoring suite with GE Healthcare’s clinical monitoring offering will extend care beyond the clinical setting and enable more patients to continue to receive quality care from the comfort of their homes, delivering healthcare without limits,” said Ashutosh Banerjee, GM, diagnostic cardiology and remote patient monitoring, GE Health…

GE HealthCare moves to secure contrast media supply

GE Healthcare says its contrast media products are used in more than 100 million procedures globally every year. [Image courtesy of GE Healthcare]GE HealthCare today announced a long-term agreement with Chile-based mining company SQM to secure its supply of iodine for vital imaging agents.

The chemical element is a key ingredient for contrast media products. Health providers worldwide use contrast media in X-Ray and Computed Tomography (CT) procedures. The medtech giant is seeking to stabilize contrast media supplies. Supply chain disruption related to contrast media caused thousands of Americans to have to wait for exams earlier this year.

Under the new agreement, SQM will increase the supply of iodine raw material year-on-year.

“We’re pleased to continue our relationship with GE Healthcare — a key customer for us for more than 40 years,” said Pablo Altimiras, EVP of Iodine and Nitrates, SQM.

“As one of the largest producers of iodine wo…

GE HealthCare spinoff moves forward

GE (NYSE: GE) has filed a Form 10 registration statement with the SEC as aims toward completing a GE HealthCare spinoff in early 2023.

With $17.6 billion in annual revenue and 51,000 employees, GE HealthCare will remain a major medtech business. (Check out our recent Medtech Big 100 report on the world’s largest medical device companies.) The plan is for GE HealthCare to stay headquartered in Chicago. It has filed with the Nasdaq exchange to trade under the symbol GEHC.

“This is a milestone day for the GE HealthCare team, who is dedicated to our mission to create a world where healthcare has no limits,” GE HealthCare CEO Peter Arduini said in a news release out yesterday. “We believe we have a clear path to deliver precision innovation for our customers and their patients while accelerating growth and optimizing our business as a standalone company.”

GE will retain up to 19.9% of GE HealthCare’s outstanding shares following the sp…

FDA clears next-gen deep learning MRI software from GE Healthcare

[Image from GE Healthcare]GE Healthcare (NYSE:GE) announced today that it received FDA 510(k) clearance for its AIR Recon DL for 3D and Propeller imaging sequences.

Air Recon DL’s benefits extend to nearly all magnetic resonance imaging (MRI) clinical procedures. The platform covers all anatomies, enabling better image quality, shorter scan times and improved patient experience.

GE Healthcare said in a news release that the solution’s compatibility expands from 2D to 3D imaging sequences. This allows physicians to diagnose patients with an improved signal-to-noise ratio (SNR) and sharpness. Meanwhile, it said the 3D imaging provides for more clinical efficiency by eliminating the need for multiple 2D acquisitions. This potentially leads to faster diagnosis.

The platform is also compatible with Propeller motion-insensitive imaging sequencing. Propeller holds particular importance for anatomies susceptible to motion such as respiration during MRI …

GE Healthcare, Wayra partner with startups to improve digital health across EMEA

[Image courtesy of GE Healthcare]GE Healthcare (NYSE:GE) and Wayra today announced a collaboration to name seven medtech startups to the Edison Accelerator program.

The seven startups represent the second cohort of the Edison Accelerator in Europe, the Middle East and Africa (EMEA). The accelerator is a startup and scale-up program designed by GE Healthcare in partnership with UK-based Wayra.

Over the next six months, the startups will be offered access to GE Healthcare’s solutions and integrations. They will also have access to healthcare providers to test product innovations on existing workflows and technologies.

GE Healthcare said the program helps to develop, integrate and commercialize digital solutions. In turn, this will “drive the digital future of healthcare forward.”

“The challenges the healthcare sector is facing today are too complex for a single company to solve,” said Jan Beger, senior director of digital ecosys…

GE Healthcare, Lantheus radiotracer trial meets endpoints

GE Healthcare (NYSE:GE) and Lantheus Holdings (NSDQ:LNTH) today announced positive trial results for an investigational radiotracer.

The Phase III clinical trial for the Flurpiridaz radiotracer met its co-primary endpoints. It exceeded a 60% threshold for both sensitivity and specificity in detecting coronary artery disease (CAD). GE and Lantheus shared the results at the American Society of Nuclear Cardiology (ASNC) Congress, in Florida.

According to a news release, the data also demonstrate higher diagnostic efficacy and image quality for the radiotracer. These data compared Flurpiridaz to single photon emission computed tomography (SPECT) myocardial perfusion imaging (MPI).

The trial included over 600 patients across sites in the U.S., Europe and Canada. It assessed the diagnostic efficacy of Flurpiridaz in detecting CAD with invasive coronary angiography as a standard of truth. The companies said that, if approved, the investigational agent would off…

The 10 largest medtech employers — and what their employees really think

Employees of the 10 largest medtech employers are happy to be a part of a company that is having a positive impact on patient populations.

That was one major takeaway as MassDevice compiled some current and former employee reviews posted on Glassdoor.

Medtronic, Philips and Johnson & Johnson MedTech top the list of largest medtech employers. The 10 companies we looked at were the largest employers in Medical Design & Outsourcing‘s newest Big 100 report on the largest medical device companies.

Company Employees Medtronic 95,000 Philips 78,189 Johnson & Johnson MedTech 75,000

As with most companies, there are some qualms with corporate bureaucracy and reorganizations creating frustration for employees.

Employment in the medtech industry is on the rise, according to a recent analysis of our Medtech Big 100 data. There were 1,268,924 employees among the 100 largest companies that report human capital in their annual repor…

GE announces target HealthCare spinoff date, names board for new standalone company

The new logo for the stand-alone GE HealthCare company [Image courtesy of GE Healthcare]GE today announced the board of directors and the planned spinoff date for its new HealthCare standalone company.

Boston-based GE said the previously-announced tax-free spinoff is expected to be completed the first week of January in the new year. Previously, the company announced that H. Lawrence Culp, Jr., chairperson and CEO of GE and CEO of GE Aerospace, will serve as non-executive chairperson of GE HealthCare. Peter Arduini, CEO of GE HealthCare, will also serve as a director on the board.

The company announced eight additional directors who will join the board of directors.

“I am thrilled with the group we have assembled to serve on GE HealthCare’s Board of Directors. These directors are highly experienced and energized by GE HealthCare’s mission and opportunities ahead. They bring a diverse range of perspectives and backgrounds to support the company’s ambitions, …