GE HealthCare to acquire Cleveland-based provider of AI imaging-analysis software
GE HealthCare has an agreement in place to acquire MIM Software Inc., a Cleveland-based provider of imaging analysis software for radiology and other specialties, the two announced Monday.
In pursuing the purchase, 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 software 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. The company said this will allow it to offer artificial intelligence-powered image segmentation, contouring and dosimetry analysis across growing specialties such as radiology, molecular imaging and radiation oncology.
“GE HealthCare is committed to developing smart, AI-powered devices that cater to specific disease states, thereby enabling clinicians to deliver more personalized care,” cardiologist Taha Kass-Hout, MD, recently named the company’s new chief technology officer, said in a Jan. 8 announcement. “We expect the integration of MIM Software will also advance our efforts in connecting data across care pathways. It is a leap towards a future where healthcare is more precise, connected and efficient, with the goal of benefitting providers and patients worldwide.”
Founded in the early 2000s—with its first product referred to as “MIM,” or Medical Image Merge—the company also operates in oncology, urology, neurology and cardiology. MIM Software offers 40-plus solutions, used by over 3,000 institutions worldwide, and has more than 350 employees, with additional offices in China and Belgium.
GE HealthCare did not disclose financial terms of the deal. The transaction is still subject to closing conditions, including approval by government authorities. GE HealthCare said it intends to fund the acquisition with cash on hand and expects the transaction to be neutral to adjusted earnings in year 1 and accretive thereafter.
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.