Ge Healthcare Technologies Inc Stock Price, News & Analysis

GE HealthCare (Nasdaq: GEHC) announced the publication of the MASTER trial results in Anesthesia and Analgesia, demonstrating the safety and efficacy of End-tidal Control software for inhaled anesthetic administration. The study, conducted across four U.S. hospitals with 210 adult patients, showed that End-tidal Control achieved:

• Targeted end-tidal anesthetic concentrations within 5% of the set value 98% of the time, compared to 46% with manual control
• Targeted end-tidal oxygen concentrations within 5% of the set value 86% of the time, versus 41% with manual control
• Faster response times for achieving 90% of the initial desired end-tidal anesthetic concentration (median 75 seconds vs. 158 seconds)

The software also demonstrated potential to reduce anesthetic agent usage, greenhouse gas emissions, and costs compared to manual control.

GE HealthCare has announced a collaboration with the University of California San Diego School of Medicine to develop advanced MRI protocols and educational materials for women's pelvic imaging. The project, led by Dr. Rebecca Rakow-Penner, aims to improve diagnosis and management of female pelvic diseases such as endometriosis and ovarian cancer. This initiative addresses the gap in medical research and care for women's pelvic health, which is often understudied and misdiagnosed.

The collaboration seeks to democratize advanced imaging for women and increase access to high-quality care. By creating training materials and protocols, the project aims to equip clinicians worldwide with tools to deliver better care. This could potentially improve patient experiences and help clinicians make more informed decisions, ultimately bridging an important gap in women's healthcare.

GE HealthCare (GEHC) reported its Q2 2024 financial results, with flat revenues at $4.8 billion year-over-year and 1% organic revenue growth. The net income margin increased slightly to 8.9% from 8.7%, and adjusted EBIT margin rose to 15.3% from 14.8%. Diluted EPS improved to $0.93 from $0.91, while adjusted EPS grew to $1.00 from $0.92. However, the company experienced a decline in cash flow from operating activities to $(119) million from $(67) million and free cash flow to $(182) million from $(136) million.

Segment performance varied, with Imaging revenue down 1%, Ultrasound down 2%, Patient Care Solutions flat, and Pharmaceutical Diagnostics up 12%. GE HealthCare revised its full-year guidance, lowering organic revenue growth to 1-2% from approximately 4%, but raising adjusted EBIT margin to 15.7-16.0% from 15.6-15.9%.

CEO Peter Arduini highlighted strong orders growth in the U.S. and ongoing investments in future growth despite challenges in the China market. The company also announced several strategic collaborations and acquisitions to advance healthcare technologies.

GE HealthCare (GEHC) and Amazon Web Services (AWS) have announced a strategic collaboration to develop generative AI applications for healthcare. GE HealthCare has selected AWS as its strategic cloud provider to build and implement new foundation models aimed at transforming healthcare. The collaboration will utilize AWS services like Amazon Bedrock, Amazon Q Developer, and Amazon SageMaker to accelerate the development of medical technologies and streamline clinical workflows.

The partnership aims to improve diagnostic accuracy, enhance patient outcomes, and promote equitable care. GE HealthCare plans to leverage AWS's healthcare-specific cloud services and generative AI capabilities to build transformative clinical foundation models and applications, potentially reducing application development cycles from years to months.

GE HealthCare (Nasdaq: GEHC) has announced an agreement to acquire Intelligent Ultrasound Group's clinical AI software business for approximately $51 million. This acquisition aims to enhance GE HealthCare's ultrasound portfolio with AI-driven image analysis tools, improving workflow efficiency and ease-of-use for clinicians.

Key highlights include:

• Integration of Intelligent Ultrasound's ScanNav Assist AI technology into GE HealthCare's ultrasound systems
• Addition of R&D experts to drive AI-enabled innovation in Women's Health ultrasound devices
• Support for GE HealthCare's precision care strategy to address inefficiencies and improve patient care quality

The transaction is expected to close in Q4 2024, subject to customary closing conditions.

GE HealthCare (Nasdaq: GEHC) will reveal its second quarter 2024 financial results on July 31, 2024, before the market opens.

The announcement will be followed by a conference call and webcast at 8:30 a.m. Eastern Time, accessible via the company's Investor Relations website.

The webcast, earnings release, and related financial documents will also be available for replay on the same platform.

GE HealthCare Technologies (Nasdaq: GEHC) has announced a cash dividend of $0.03 per share for the second quarter of 2024. This dividend will be payable on August 15, 2024, to shareholders who are on record as of July 19, 2024. The announcement reflects the company’s ongoing commitment to returning value to its shareholders.

Heart Hospital of New Mexico at Lovelace Medical Center (HHNM) and GE HealthCare have announced the installation of the first Allia Image Guided System (IGS) Pulse in the United States. The Allia IGS Pulse is designed to enhance image quality and workflow in cardiovascular disease diagnosis and treatment. This advanced system will be employed in HHNM's cardiac electrophysiology lab for procedures like cardiac ablations, catheterizations, and valve replacements. Dr. Sean Mazer emphasized the system's ability to handle patients of all sizes and improve surgical outcomes. Brian Miller, CEO of HHNM, noted the hospital's dedication to innovative heart care. Arnaud Marie of GE HealthCare highlighted the collaboration as a testament to GE's commitment to healthcare advancements.

GE HealthCare and MediView XR announced the world's first installation and clinical use of the OmnifyXR Interventional Suite at North Star Vascular and Interventional in Minnesota. The augmented reality-based system, which features a heads-up holographic display, aims to revolutionize interventional radiology by providing advanced imaging, 3D anatomy visualization, and remote collaboration capabilities. The system supports workflow efficiency, improved visualization, and collaborative care. The first clinical procedures using OmnifyXR were the embolization of a genicular artery and a prostate artery. OmnifyXR is currently available in the U.S. and will expand globally.