GE HealthCare finalizes acquisition of Cleveland-based provider of AI imaging-analysis software
GE HealthCare announced Monday it has finalized the acquisition of MIM Software Inc., a Cleveland-based provider of image-analysis technology for radiology and other specialties.
Back in January, GE said it sees a variety of beneficial features in the MIM suite of imaging solutions. Those include the ability to integrate images from multiple modalities into one treatment plan, along with advanced processing to help radiologists and nuclear medicine specialists gauge patients’ response to therapy.
Chicago-headquartered GE plans to integrate MIM Software solutions into its advanced-visualization product line. This will allow it to offer AI-powered image segmentation, contouring and dosimetry analysis across specialties such as radiology, molecular imaging and radiation oncology.
“We are thrilled to welcome MIM Software, known for driving innovation in multimodal image analytics and workflow, to our global GE HealthCare team,” Peter Arduini, MBA, president and CEO of GE HealthCare, said in an April 1 announcement. “These new capabilities align with our precision care strategy to personalize care, enhance hospital efficiency and clinician effectiveness, and appeal to new and existing GE HealthCare and MIM Software users who see this as an opportunity to better serve patients and help improve outcomes.”
GE HealthCare did not disclose financial details of the transaction, which it is funding with cash on hand. The company expects the acquisition to be neutral to adjusted earnings (before interest and taxes) in year 1 and accretive after that.
Progenics Pharmaceuticals Inc. filed a lawsuit in February claiming MIM Software stole its technology to help make the company more appealing as an acquisition target for GE.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.