Big deals in a busy August
So much for a summer lull.
Some of the biggest names in healthcare made big moves this month, announcing major acquisitions and partnerships that will reshape markets and lead to some pretty intriguing improvements for patient care.
The month started out with a bang, as IBM announced plans to acquire Merge Healthcare for $1 billion. IBM is hoping to help its healthcare-changing, Jeopardy-winning Watson artificial intelligence “see” by combining the systems cognitive abilities with the advanced imaging analytics of Merge.
Shortly thereafter, rumors started to swirl that GE Healthcare and Capital One were close to a deal. Rumors soon became reality, as Capital One announced Aug. 11 that it had agreed to by GE’s Healthcare Financial Services (HFS) business unit for approximately $9 billion.
GE Capital’s HFS unit loaned more than $10.5 billion for acquisitions, refinancings, working capital and other purposes in 2014, according to The Wall Street Journal.
One rumor that did not become reality was a reported deal in the works between Abbott Laboratories and St. Jude Medical. Call it the “$25 billion deal that wasn’t,” because despite reports published in the Financial Times that an agreement was close, Abbott denied the rumor.
The companies have had an alliance since 2008 in which they jointly sell U.S. hospitals a portfolio of products in interventional cardiology, cardiac rhythm management, electrophysiology and intravascular imaging and diagnostic technologies. For now, though, it will remain only an alliance and not another merger and acquisition headline-grabber.
Right at the end of the month, GE made another announcement, celebrating a seven-year collaboration with Temple University Health System to promote high-quality, efficient imaging services at a lower cost.
The goal of this new arrangement is to save a total of $39 million by targeting changes in the health system’s “operational, clinical and financial outcomes,” according to GE. The company will upgrade the radiology departments at Temple University Hospital’s main, episcopal and northeastern campuses, Jeanes Hospital, and the Fox Chase Cancer Center
Those are just a few of the headlines from August. Stay tuned as we bring you all the latest in medical imaging and across healthcare as the calendar flips to September.
-Evan Godt
Editorial Director – Digital
TriMed Media
Evan joined TriMed in 2011, writing primarily for Health Imaging. Prior to diving into medical journalism, Evan worked for the Nine Network of Public Media in St. Louis. He also has worked in public relations and education. Evan studied journalism at the University of Missouri, with an emphasis on broadcast media.