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GE Healthcare (GEHC) Buys MIM Software to Boost Imaging Tools
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GE HealthCare (GEHC - Free Report) recently announced an agreement to acquire MIM Software, a global supplier of artificial intelligence (AI) solutions and medical imaging analysis tools. Financial details of the acquisition are kept under wraps. GE HealthCare plans to use its cash on hand to fund this deal.
As the fields of radiology, molecular imaging, and radiation oncology are growing, GE HealthCare plans to incorporate MIM Software solutions into its advanced visualization offerings to help patients with AI-based segmentation and contouring, as well as dosimetry analysis, throughout their treatment journeys.
Price Performance
For the past six months, GEHC shares have lost 6.8% compared with the industry’s decline of 15.6%. However, the S&P 500 rose 6.5% in the same time frame.
Image Source: Zacks Investment Research
More on the Acquisition
With the acquisition, GE Healthcare expects to incorporate the best of MIM Software’s imaging analytics and digital workflow capabilities across various care areas for the benefit of patients and healthcare systems around the world.
The portfolio of cutting-edge imaging solutions from MIM Software offers several advantageous features, such as the incorporation of diagnostic images from various modalities into treatment plans, automation to lessen manual interventions and repetitive tasks, advanced processing and quantitation in nuclear medicine and diagnostic imaging to help determine therapy response, and a platform to support Theranostics imaging and dosimetry.
With the agreement to acquire MIM Software, GE HealthCare is aiming to broaden the scope of precision care across several disease states and imaging practices by improving its offerings and focus. Examples of these include radiation oncology's streamlined workflow solutions for treating advanced prostate cancer, neurology's beta amyloid imaging for diagnosing and tracking Alzheimer's patients, and myocardial perfusion for diagnosing coronary artery disease.
Industry Prospects
Per a report by Grand View Research, the global medical image analysis software market size was estimated at $3.27 billion in 2023 and is expected to expand at a compound annual growth rate of 7.8% from 2024 to 2030.
A rapid growth in the demand for diagnostic imaging software in various medical specialties, including orthopedics, dental, neurology, urology, and oncology, is poised to drive market growth.
Notable Developments
In November 2023, GE Healthcare announced the release of an all-in-once platform of AI apps called MyBreastAI Suite to assist physicians with breast cancer diagnosis and increase workflow productivity.
GE Healthcare recently introduced a Magnetic Resonance Imaging (MRI) system called SIGNA Champion to enhance the standard care of MRI exams for patients by incorporating AI features to help enable faster and more precise MRI scans.
Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (ITGR - Free Report) , Acadia Healthcare (ACHC - Free Report) , and Universal Health Services (UHS - Free Report) .
Integer Holdings, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.
Acadia Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.4%. ACHC’s long-term earnings are expected to grow at 11.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Acadia’s shares have gained 11.7% in the past six months against the industry’s decline of 5%.
Universal Health Services, carrying a Zacks Rank of 2 at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
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GE Healthcare (GEHC) Buys MIM Software to Boost Imaging Tools
GE HealthCare (GEHC - Free Report) recently announced an agreement to acquire MIM Software, a global supplier of artificial intelligence (AI) solutions and medical imaging analysis tools. Financial details of the acquisition are kept under wraps. GE HealthCare plans to use its cash on hand to fund this deal.
As the fields of radiology, molecular imaging, and radiation oncology are growing, GE HealthCare plans to incorporate MIM Software solutions into its advanced visualization offerings to help patients with AI-based segmentation and contouring, as well as dosimetry analysis, throughout their treatment journeys.
Price Performance
For the past six months, GEHC shares have lost 6.8% compared with the industry’s decline of 15.6%. However, the S&P 500 rose 6.5% in the same time frame.
Image Source: Zacks Investment Research
More on the Acquisition
With the acquisition, GE Healthcare expects to incorporate the best of MIM Software’s imaging analytics and digital workflow capabilities across various care areas for the benefit of patients and healthcare systems around the world.
The portfolio of cutting-edge imaging solutions from MIM Software offers several advantageous features, such as the incorporation of diagnostic images from various modalities into treatment plans, automation to lessen manual interventions and repetitive tasks, advanced processing and quantitation in nuclear medicine and diagnostic imaging to help determine therapy response, and a platform to support Theranostics imaging and dosimetry.
With the agreement to acquire MIM Software, GE HealthCare is aiming to broaden the scope of precision care across several disease states and imaging practices by improving its offerings and focus. Examples of these include radiation oncology's streamlined workflow solutions for treating advanced prostate cancer, neurology's beta amyloid imaging for diagnosing and tracking Alzheimer's patients, and myocardial perfusion for diagnosing coronary artery disease.
Industry Prospects
Per a report by Grand View Research, the global medical image analysis software market size was estimated at $3.27 billion in 2023 and is expected to expand at a compound annual growth rate of 7.8% from 2024 to 2030.
A rapid growth in the demand for diagnostic imaging software in various medical specialties, including orthopedics, dental, neurology, urology, and oncology, is poised to drive market growth.
Notable Developments
In November 2023, GE Healthcare announced the release of an all-in-once platform of AI apps called MyBreastAI Suite to assist physicians with breast cancer diagnosis and increase workflow productivity.
GE Healthcare recently introduced a Magnetic Resonance Imaging (MRI) system called SIGNA Champion to enhance the standard care of MRI exams for patients by incorporating AI features to help enable faster and more precise MRI scans.
GE HealthCare Technologies Inc. Price
GE HealthCare Technologies Inc. price | GE HealthCare Technologies Inc. Quote
Zacks Rank & Stocks to Consider
GEHC carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (ITGR - Free Report) , Acadia Healthcare (ACHC - Free Report) , and Universal Health Services (UHS - Free Report) .
Integer Holdings, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.
Acadia Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.4%. ACHC’s long-term earnings are expected to grow at 11.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Acadia’s shares have gained 11.7% in the past six months against the industry’s decline of 5%.
Universal Health Services, carrying a Zacks Rank of 2 at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.