GE HealthCare to acquire Intelerad for $2.3B
GE HealthCare has reached a deal to acquire Intelerad, a leading imaging software provider, for $2.3 billion, the two companies announced Thursday afternoon.
The Chicago-based imaging systems manufacturer said it plans to pay the purchase price in cash, believing the acquisition demonstrates its “continued commitment to cloud-enabled and AI-powered solutions.”
Founded in 1999 and based in Montreal, Canada, Intelerad provides imaging software and digital enterprise workflow solutions with a “significant presence” in outpatient care, GEHC said.
"As hospital and ambulatory care providers face increased demand for imaging and rising patient volumes, they are looking to simplify and unify their workflows," GE HealthCare President and CEO Peter Arduini, MBA, said in a Nov. 20 announcement. "Our acquisition of Intelerad will bring additional cloud-enabled and intelligent solutions in radiology and cardiology into our portfolio of products and extend our capabilities into outpatient networks, enabling care teams to be more efficient, improve outcomes, and deliver precision care for patients globally.”
As a result, Arduini added, GEHC expects to accelerate its growth in the software-as-a-service space, adding recurring revenues as the company takes “another evolutionary step to growth into a healthcare solutions provider.” GEHC believes the company’s suite of “cloud first products” that complement its own leadership in hospital-based imaging. Together they plan to create a more “comprehensive” cloud offering spanning “diverse care settings—from large academic medical centers to rapidly expanding ambulatory networks.”
“Joining GE HealthCare marks an exciting new chapter for Intelerad,” the acquired company’s CEO, Jordan Bazinsky, said in the same announcement. “GE HealthCare’s global scale and extensive relationships with key decision makers across hospital systems will fuel the expansion of our connected imaging software offering. Together, we look forward to advancing digital innovation in healthcare and delivering more integrated AI-enabled solutions that empower our customers to tackle their greatest challenges.”
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.