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GE Healthcare (GEHC), MedQuest Partner to Boost Imaging Field
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GE Healthcare (GEHC - Free Report) and MedQuest Associates recently announced their collaboration to boost multi-site outpatient imaging networks.
As a result of this three-year collaboration, GE Healthcare, with its innovative technologies along with MedQuest’s outpatient imaging facilities, is set to optimize imaging solutions and provide solutions to support Theranostics.
Price Performance
For the past six months, GEHC’s shares have gained 15.8% against the industry’s decline of 0.9%. The S&P 500 increased 11.8% in the same time frame.
Image Source: Zacks Investment Research
More on the News
To improve operational effectiveness and increase access, as well as guarantee superior patient care, innovative care models and cutting-edge technology in outpatient imaging are essential. The collaboration is likely to deliver the same as it aims to boost imaging solutions with the help of innovative technologies.
The breakthrough technologies of GE HealthCare combined with MedQuest's concept of collaborative ventures with health systems will facilitate the introduction of developing imaging solutions, including those that enable Theranostics, into the ambulatory setting.
With the addition of AI-enabled digital capabilities from GE HealthCare, such as AIR Recon DL, AIR Touch Technology, Imaging Protocol Manager, Smart Subscription, and Digital tools with Imaging 360, MedQuest will continue to expand its capacity to deliver high-performing care in the outpatient imaging space.
By enhancing radiology workflows and reducing care team workloads, these cutting-edge technologies will empower clinicians to deliver precise, tailored patient care and improve patient outcomes.
Through this partnership, hospitals and healthcare systems will be able to improve patient care better and reach out to the communities they serve. The additional inflow of sales is likely for GE Healthcare as this collaboration will boost its imaging segment.
Industry Prospects
Per a report by MarketsandMarkets, the global diagnostic imaging services market size is expected to witness a growth rate of 5.1% and reach $702.6 billion by 2027.
Major factors such as high chronic diseases coupled with a growing geriatric patient population, increasing awareness about the different imaging procedures and rapid expansion of new imaging diagnostic centers are driving the market growth.
Some better-ranked stocks in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Elevance Health, Inc (ELV - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) 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%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
Integer Holdings, presently carrying a Zacks Rank of 2, 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.
Elevance Health, carrying a Zacks Rank of 2, reported fourth-quarter 2023 adjusted EPS of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%.
Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.
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GE Healthcare (GEHC), MedQuest Partner to Boost Imaging Field
GE Healthcare (GEHC - Free Report) and MedQuest Associates recently announced their collaboration to boost multi-site outpatient imaging networks.
As a result of this three-year collaboration, GE Healthcare, with its innovative technologies along with MedQuest’s outpatient imaging facilities, is set to optimize imaging solutions and provide solutions to support Theranostics.
Price Performance
For the past six months, GEHC’s shares have gained 15.8% against the industry’s decline of 0.9%. The S&P 500 increased 11.8% in the same time frame.
Image Source: Zacks Investment Research
More on the News
To improve operational effectiveness and increase access, as well as guarantee superior patient care, innovative care models and cutting-edge technology in outpatient imaging are essential. The collaboration is likely to deliver the same as it aims to boost imaging solutions with the help of innovative technologies.
The breakthrough technologies of GE HealthCare combined with MedQuest's concept of collaborative ventures with health systems will facilitate the introduction of developing imaging solutions, including those that enable Theranostics, into the ambulatory setting.
With the addition of AI-enabled digital capabilities from GE HealthCare, such as AIR Recon DL, AIR Touch Technology, Imaging Protocol Manager, Smart Subscription, and Digital tools with Imaging 360, MedQuest will continue to expand its capacity to deliver high-performing care in the outpatient imaging space.
By enhancing radiology workflows and reducing care team workloads, these cutting-edge technologies will empower clinicians to deliver precise, tailored patient care and improve patient outcomes.
Through this partnership, hospitals and healthcare systems will be able to improve patient care better and reach out to the communities they serve. The additional inflow of sales is likely for GE Healthcare as this collaboration will boost its imaging segment.
Industry Prospects
Per a report by MarketsandMarkets, the global diagnostic imaging services market size is expected to witness a growth rate of 5.1% and reach $702.6 billion by 2027.
Major factors such as high chronic diseases coupled with a growing geriatric patient population, increasing awareness about the different imaging procedures and rapid expansion of new imaging diagnostic centers are driving the market growth.
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 Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Elevance Health, Inc (ELV - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) 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%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
Integer Holdings, presently carrying a Zacks Rank of 2, 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.
Elevance Health, carrying a Zacks Rank of 2, reported fourth-quarter 2023 adjusted EPS of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%.
Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.