GE Healthcare Archives - Page 8 of 11 - Medical Design Sourcing

GE cuts CEO compensation amid shareholder concern

GE CEO Larry Culp [Photo courtesy of GE]GE (NYSE:GE) announced that CEO Larry Culp has agreed to reduce his annual equity incentive grant for 2022.

Culp’s employment agreement had him receiving a $15 million equity incentive grant this year; he’ll instead receive $5 million, according to a company proxy statement filed yesterday.

The GE board compensation committee said: “Shareholders have been overwhelmingly supportive of Larry and the action in 2020 to extend the term of his employment. But there was shareholder concern around the timing, size and structure of the 2020 retention grant made as part of the extension.”

According to the proxy, Culp’s total compensation nearly tripled to $73.2 million in 2020 from a previous $24.6 million in 2019. It settled down to $22.7 million in 2021.

GE’s revenue meanwhile declined nearly 16% to $75.8 billion in 2020, with much of the sales decline coming from the conglomerate…

Innovations coming out of HIMSS 2022 you should know

Companies are announcing a range of innovations in digital health, cybersecurity, AI and more at HIMSS 2022.

The Healthcare Information and Management Systems Society (HIMSS) Global Health Conference and Exhibition runs March 14–18, 2022, in Orlando, Florida. It’s an annual health information and technology event where professionals can connect to learn more about innovations in the industry.

Here are some of the healthcare IT innovation announcements made at HIMSS22:

Get the full story on our sister site, Medical Design & Outsourcing.

GE Healthcare, AliveCor partner to reduce cardiac-related hospitalizations

GE Healthcare’s MUSE platform (left) and AliveCor’s KardiaMobile 6L (right). [Images from GE Healthcare and AliveCor]GE Healthcare (NYSE:GE) and AliveCor announced today that they partnered to deliver electrocardiograms (ECGs) outside the hospital.

AliveCor develops the KardiaMobile 6L (six-lead) ECG to detect AFib and other heart rhythm conditions. The partnership aims to deliver KardiaMobile’s six-lead ECGs taken by patients directly into GE Healthcare’s MUSE cardiac management system for physicians to view and evaluate.

According to a news release, the companies believe integrating the technologies will offer physicians access to trusted patient data within their existing workflow, increasing diagnostic confidence and enhancing the management of patients across the care continuum. GE Healthcare and AliveCor partnered with a goal of reducing hospitalizations linked to cardiac conditions, including but not limited to AFib.

GE Health…

GE Healthcare to roll out AI-powered Edison Digital Health Platform

GE Healthcare (NYSE:GE) today announced plans for its Edison Digital Health Platform.

The news was part of HIMSS 2022 in Orlando, Florida, where GE Healthcare officials described Edison as a vendor-agnostic hosting and data aggregation platform with an integrated AI engine.

The Edison Digital Health Platform could enable health providers to effectively deploy clinical, workflow, analytics and AI tools, according to GE. The platform accelerates app integration by connecting devices and other data sources into an aggregated clinical data layer.

Get the full story on our sister site Medical Design & Outsourcing.

Three GE Healthcare leaders outline their vision for AI and the cloud in medtech

GE Healthcare Life Care Solutions Chief Technology Officer Roshy Francis [Photo courtesy of GE Healthcare]Set to spin off from parent company GE (NYSE:GE) next year, GE Healthcare leverages artificial intelligence (AI) to help providers improve efficiency, patient outcomes and access to care.

The medtech giant’s offerings include AI-based imaging applications and its Edison Health Services platform.

As part of the Medical Design & Outsourcing cloud conversation series with medtech innovators and leaders, three leaders from GE Healthcare — Life Care Solutions Chief Technology Officer Roshy Francis, SVP and Imaging Solutions GM Rekha Ranganathan and VP and Edison AI and Platform GM Vignesh Shetty — offered their vision for the cloud-enabled future of healthcare.

Get the full story at Medical Design & Outsourcing.

GE Healthcare inks partnership deal with Circle Health Group in U.K.

circGE Healthcare (NYSE:GE) announced recently that it signed a 10-year partnership with UK-based Circle Health Group.

The partnership agreement aims to empower Circle’s clinicians to make faster, more targeted and more informed decisions in diagnosing, treating and monitoring patients through intelligent devices, data analytics and other services.

Circle Health and GE Healthcare look to improve patient outcomes across Circle’s national network of more than 50 hospitals in the UK, with the agreement covering the provision of medical equipment, installation, services, consultancy and financing, according to a news release.

“When we acquired BMI Healthcare last year, we pledged to set new standards for patient care by investing in cutting-edge technology and empowering our highly-skilled clinicians,” Circle Health CEO Paolo Pieri said in the release. “Our partnership with GE Healthcare is a major step towards realizing that ambition…

GE misses Q4 projections as supply chain issues cause healthcare revenues to dip

GE (NYSE:GE) shares took a dip today on fourth-quarter results that came up shy of the consensus forecast amid supply chain problems.

The Boston-based company posted losses of $3.9 billion, or $3.55 per share, on sales of $20.3 billion for the three months ended Dec. 31, 2021, for a massive bottom-line slide from profits of $2.4 billion this time last year on a sales decline of 3.5%.

Adjusted to exclude one-time items, earnings per share were 82¢, 5¢ behind Wall Street, where analysts were looking for sales of $21.5 billion.

GE’s healthcare segment also experienced a slight revenue decline, registering sales of more than $4.6 billion for a dip of 4.1%. The company attributed the sales drop to ongoing industry-wide supply shortages and inflation, but said its healthcare arm is well-positioned for continued profitable growth as GE prepares to stand up the business as an independent company in 2023.

“2021 was an important year for the GE team, …

GE Healthcare, Boston Scientific collaborate in Asia for interventional cardiac care

GE Healthcare (NYSE:GE) announced today that it is collaborating with Boston Scientific (NYSE:BSX) on cardiac care in Southeast Asia.

The companies tout the collaboration as the first of its kind, as they will combine their interventional cardiology portfolios to provide a comprehensive offering ranging from diagnostic to percutaneous coronary intervention (PCI) to cardiac care centers in the region.

Boston Scientific’s medical devices and capabilities will be paired with GE Healthcare’s medical imaging systems, including its cardiac catheterization lab and related software, to support diagnosis, treatment and monitoring across cardiac care, according to a news release.

“Bridging the industry gap in providing an end-to-end cardiac care center for healthcare providers, this partnership will see the integration of cardiac care solutions, from cath labs to intravascular vltrasound (IVUS), serving as a comprehensive portfolio for heart surgeons,&…

GE Healthcare completes $1.45B acquisition of BK Medical

GE Healthcare (NYSE:GE) announced today that it completed its previously announced $1.45 billion acquisition of BK Medical.

Boston-based GE Healthcare confirmed in September that the companies had entered into a definitive agreement for GE to purchase BK Medical, a developer of surgical visualization technologies.

The acquisition adds real-time surgical visualization offerings to its pre-operative and post-operative ultrasound capabilities, creating an end-to-end offering through the full continuum of care, according to a news release.

BK Medical has headquarters in Boston and Copenhagen with more than 650 employees. GE Healthcare said it acquired BK Medical from Altaris Capital Partners and that the company is delivering double-digit revenue growth.

“We have been on a journey to change the standard of care for surgery by making it possible for surgeons to make critical decisions in the operating room using real-time advanced visualization, allowi…

12 of medtech’s biggest personnel changes in 2021

As medtech companies continued to drive innovation throughout the past 12 months, a number of high-level executives led the way.

Some of those companies and those executives opted for major changes over the course of 2021, though, with some high-profile moves from medtech giant to medtech giant.

Here are some of the biggest personnel moves in the medtech space in 2021:

Get the full story at our sister site, Medical Design & Outsourcing.

The 10 largest medtech employers of 2021 – and what their employees really think

Employees of the 10 largest medtech employers are proud of working on life-saving products — with a greater appreciation for diversity and inclusion initiatives.

That was one major takeaway as Medical Design & Outsourcing compiled some current and former employee reviews posted on Glassdoor. (Browse the online version of our Big 100 report.)

Despite the pride, there was also some frustration with big corporate bureaucracy.

Medtech employment in MDO‘s 2021 Big 100 was down slightly from our 2020 and 2019 reports — even as the industry continued to be on the frontlines of the COVID-19 pandemic. It’s worth noting that of the nearly 90 companies in this year’s Big 100 that provided employment data, about half added workers amid the pandemic. Another handful kept their headcounts the same.

The companies are the largest medical device industry employers in our most recent annual Big 100 list, which includes the top 100 medtech companies across the w…

GE Healthcare unveils new CT platform with built-in scalability

GE Healthcare (NYSE:GE) today unveiled its Revolution Apex computed tomography (CT) platform with built-in scalability.

Revolution Apex was designed with onsite CT detector upgrades from 40 mm to 80 mm or 160 mm detector coverage, all without replacing the gantry, all aimed at helping radiology departments stay ahead of the technology curve, the company said in a news release.

The platform was introduced by GE Healthcare at the Radiological Society of North America’s 2021 Annual Meeting in Chicago today.

GE Healthcare’s new modular CT system to enable hardware scalability so radiology departments and healthcare facilities can add service lines to accommodate evolving patient needs, minimizing technology obsolescence and optimizing clinical capabilities. It can also be seamlessly upgraded without learning a new user interface.

Operational efficiency was at the forefront of Revolution Apex’s development, as GE Healthcare designed Effortl…