GE Healthcare

Companies

GE Healthcare

GE Healthcare

Healthcare

Description

GE Healthcare is a subsidiary of American multinational conglomerate General Electric incorporated in New York and headquartered in Chicago, Illinois. As of 2017, the company is a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals for imaging modalities that are used in medical imaging procedures. The company offers dyes that are used in magnetic-resonance-imaging procedures. GE Healthcare also manufactures medical diagnostic equipment including CT image machines. Further, it develops Health technology for medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery, and biopharmaceutical manufacturing. The company was incorporated in 1994 and operates in more than 100 countries. GE Healthcare operates as a subsidiary of General Electric.

History

21st century

In 2001, GE Medical Systems acquired San Francisco, CA, based CT maker Imatron, Inc for $210 million. Imatron produced an Electron beam tomography (EBT) scanner that performs imaging applications used by physicians specializing in cardiology, pulmonology and gastroenterology. The formal Imatron business was later incorporated into GE Healthcare's Diagnostic Imaging business segment. In early 2002, GE Healthcare had acquired MedicaLogic (creator of the former Logician, an ambulatory Electronic Medical Records system) for approximately $32 million. By Jan 2003, GE acquired Millbrook Corporation, maker of Millbrook Practice Manager, a billing and scheduling system for doctors' offices. GE Healthcare IT would later merge the two products into one, although the stand-alone EMR product is still available and in development. Also in April 2002, GE Healthcare completed the acquisition of Visualization Technology, Inc., Boston, MA; a manufacturer of intra-operative medical devices and related products for use in minimally invasive image guided surgery.

In 2003, GE Healthcare acquired Instrumentarium (including its Datex-Ohmeda division), a producer, manufacturer, and supplier of anesthesia machines and mechanical ventilators. To satisfy regulatory concerns in the United States and in Europe, GE Healthcare was forced to divest Instrumentarium's Ziehm Imaging mobile C-arm business, as well as its Spacelabs patient-monitoring unit. Currently, GE Healthcare owns 80% of all anesthesia machines in the United States and 60% of the machines in the world. The former Instrumentarium business was incorporated into GE Healthcare's Clinical Systems business segment.

In 2004, the former Amersham plc business segments were separated into the GE Healthcare Medical Diagnostics and Life Sciences business segments and 1 May 2013, both the business were combined again under the GE Life Sciences brand with Kieran Murphy taking the leadership role. Also in 2004, GE Healthcare along with other healthcare companies built a research reactor for neutron and unit cell research at GE's European Research Center near Garching (outside of Munich), Germany. It is the only such reactor currently in operation. In 2005, Sir William Castell, CEO of GE Healthcare and former CEO of Amersham plc stepped down as CEO to become Chairman of the Wellcome Trust—a charity that fosters and promotes human and animal research—in the United Kingdom. Former GE Medical Systems CEO Joe Hogan became the overall CEO for the GE Healthcare business. In 2005, Dental Imaging operations were separated from GE Healthcare. The PaloDEx Group Oy was founded and continues the business with its subsidiaries Instrumentarium Dental and SOREDEX. Specifically, Instrumentarium Dental continues the brands Orthopantomograph and intraoral systems FOCUS and SIGMA, formerly known as Instrumentarium Imaging or GE Healthcare products.

In September 2005, GE Healthcare and IDX Systems Corporation announced that they entered into a definitive, $1.2 billion merger agreement for GE to acquire IDX, a leading healthcare information technology (IT) provider. The acquisition was completed in January 2006. IDX was folded into GE Healthcare Integrated IT Solutions, which specializes in clinical information systems and healthcare revenue management.

On 4 February 2008, GE Healthcare announced that it had completed the acquisition of Whatman plc (LSE:WHM), a global supplier of filtration products and technologies at 270p per share in cash for each Whatman share, valuing Whatman at approximately £363 million (approximately $713 million.) In July 2008, Joseph Hogan announced his intent to leave his post as CEO of GE Healthcare to take the role of CEO at ABB. On July 17, 2008, GE Healthcare announced John Dineen had been chosen to replace outgoing CEO Joseph Hogan. Mr. Dineen had been head of GE's Transportation division since 2005. On March 24, 2010, GE Healthcare announced acquisition of MedPlexus. In late April, 2010, GE Healthcare announced it was investing €3 million in the Technology Research for Independent Living Centre (TRIL). The Irish centre seeks to enhance independence for elderly people through technological innovation.

In July 2015, GE Healthcare partnered with the 2015 CrossFit Games to provide athletes with mobile imaging equipment.

In January 2016, it was announced GE Healthcare's global headquarters will move to Chicago effective early 2016.

In June 2017, GE announced Kieran Murphy as the new CEO of GE Healthcare, with former CEO John Flannery's appointment as CEO of GE.

In April 2018, GE announced the sale of several healthcare information technology assets for $1.05 billion to Veritas Capital.

In June 2018, GE announced plans to spin off GE Healthcare into its own company, representing the conglomerate's efforts to shrink and focus more on the aviation, power and renewable energy sectors. The plan was put on hold after selling the biopharma business to Danaher for $21.4 billion.

In January 2020, GE announced Mahesh Palashikar As New President, CEO of its south Asia division. In November of the same year the business announced it would acquire Prismatic Sensors AB.

In 2021, GE started a collaboration with Spectronic Medical to create AI-based software. In September the business announced it would acquire BK Medical from Altaris Capital Partners for $1.45 billion.

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President & CEO of GE Healthcare
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Vice President & General Counsel of GE Healthcare
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