GE HealthCare eyes IR guidance company, releases revenue results
Less than a week after ringing the Nasdaq opening bell to showcase its long-awaited independence, GE HealthCare has announced a first strategic acquisition is in the works.
Under the agreement and pending regulatory approvals, Imactis, a maker of stereotactic needle-guidance tools for use in CT-based interventional radiology procedures, will become a part of the GE spinoff.
From its home base in France, Imactis has been building its business since 2009. The company’s signature product, Imactis CT-Navigation, has FDA and EU approval for various types of biopsy, ablation, drainage and surgical repair.
In an announcement posted Jan. 9, GE HealthCare says it intends to extend the technology’s present use cases to any number of minimally invasive procedures across oncology, cardiology, urology, nephrology and gastroenterology.
Jan Makela, president and CEO of imaging for GE HealthCare, says Imactis CT-Navigation improves needle-placement accuracy, in the process shortening procedure times and reducing radiation doses.
The product represents “an innovative navigation solution for image-guided percutaneous procedures that aims for better patient outcomes by reducing variability for simple and complex procedures and improving reproducibility,” Makela adds.
Imactis president and CEO Pierre Olivier underscores that the system is already in use in both Europe and the U.S.
“Our product development team sees significant opportunities to integrate our hardware and software into GE HealthCare solutions and make the workflow of the interventional radiologists and oncologists even simpler and faster,” Olivier says.
GE HealthCare isn’t quantifying the dollar value of the deal but says it plans to fund the transaction with cash on hand.
Perhaps coincidentally, the day after announcing the acquisition, GE HealthCare released preliminary fourth-quarter and full-year revenue results for 2022, along with a revenue forecast for 2023.
Highlights of the Jan. 10 results announcement:
- Fourth quarter 2022 revenue was approximately $4.9 billion. Revenue growth for the quarter was approximately 7% year over year.
- Full year 2022 revenue was approximately $18.3 billion. Revenue growth for the full year 2022 was approximately 4% year over year.
- In 2023, GE HealthCare expects full-year revenues to grow between 5% and 7% compared with 2022.
Full revenue announcement here.
Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.