GE HealthCare (Nasdaq: GEHC) announced today that it agreed to acquire AI and medical imaging analysis provider MIM Software.
GE HealthCare plans to fund the acquisition — for which financial terms were not disclosed — with cash on hand.
MIM Software provides AI-based software for radiation oncology, molecular radiotherapy, diagnostic imaging and urology. The Cleveland-based company’s offerings span imaging centers, hospitals, specialty clinics and research organizations worldwide.
Chicago-based GE HealthCare expects to leverage MIM’s imaging analytics and digital workflow capabilities across various care areas. It aims to accelerate innovation and differentiate solutions for the benefit of patients and healthcare systems.
According to a news release, the MIM Software portfolio of imaging solutions offers GE HealthCare a variety of beneficial features. The company highlighted the integration of diagnostic images from multiple modalities into treatment plans. It also highlighted MIM’s automation capabilities, helping to reduce repetitive tasks and manual interventions.
MIM Software also offers quantitation and advanced processing in diagnostic imaging and nuclear medicine to help determine therapy response. It has a platform that assists with theranostics imaging and dosimetry, too.
GE HealthCare expects to integrate the software into its advanced visualization offerings to facilitate AI-based segmentation and contouring.
“We are committed to providing comprehensive, connected devices and digital solutions that enable providers to improve patient care across multiple specialties,” said Peter Arduini, President & CEO of GE HealthCare. “We expect our efforts to bring these two complementary organizations and innovative product portfolios together to strengthen our capabilities as a leading provider of integrated imaging systems, analytics, and advanced digital workflows across several care areas and pathways – including Theranostics, radiation oncology, urology, neurology and cardiology. Now and in the future, we are working to transform patient care.”
More on the GE HealthCare acquisition of MIM Software
Headquartered in Cleveland, MIM Software also has offices in China and Belgium.
Dr. Taha Kass-Hout, GE HealthCare chief technology officer, said the acquisition marks a key moment in the evolution of the company’s technology.
“By integrating MIM Software’s cutting-edge imaging analytics and AI-driven solutions with GE HealthCare’s advanced medical technology, we are not just expanding our capabilities, but joining together to embrace the possibilities of precision care,” Kass-Hout said. “This intended merger is a fusion of innovative visions, aimed at evolving the way we detect, treat, and manage disease. It is a leap towards a future where healthcare is more precise, connected, and efficient, with the goal of benefitting providers and patients worldwide.”
GE HealthCare says the agreement builds toward strengthening its focus and offerings to support precision care across various disease states.
“We are excited by the prospect of joining GE HealthCare and thrilled to share this exciting news,” said Andrew Nelson, CEO of MIM Software. “Over the past two decades, we have worked to develop innovative vendor-agnostic products and deliver quality services to earn the trust of our customers – this will not change. As a part of GE HealthCare, we anticipate developing new and increasingly integrated digital solutions to meet our customers’ most complex and pressing needs, today and into the future. Together, we will build upon our shared legacies of enhancing patient care.”