GE HealthCare Announces Agreement to Acquire IMACTIS to Strengthen Capabilities in Interventional Guidance
CHICAGO--(BUSINESS WIRE)--Jan 9, 2023--
GE HealthCare (Nasdaq: GEHC) today announced it has entered into an agreement to acquire IMACTIS, an innovator in the rapidly growing field of computed tomography (CT) interventional guidance across an array of care areas. IMACTIS is a France-based company that was founded in 2009 by Stephane Lavallee and Lionel Carrat, who created CT-Navigation™, an ergonomic universal solution that provides stereotactic needle guidance, enabling intuitive pre-planning and continuous control throughout a wide range of procedures, from diagnosis to treatment.
“We’re thrilled to take this step in strengthening our interventional guidance offering for patients and customers,” said Jan Makela, President and CEO of Imaging, GE HealthCare. “The IMACTIS CT-Navigation™ system is designed to improve workflow for interventional radiologists and hospitals by increasing procedural accuracy, while helping to reduce procedure time and radiation dose for patients and physicians. It is an innovative navigation solution for image-guided percutaneous procedures that aims for better patient outcomes, by reducing variability for simple and complex procedures and improving reproducibility.”
“The timing to join GE HealthCare is perfect,” said Pierre Olivier, President and CEO of IMACTIS. “Our solution, which is already deployed in leading healthcare systems in Europe and the U.S., is ready to scale and become a standard of care, thanks to GE HealthCare’s market access. Our product development team also sees significant opportunities to integrate our hardware and software into GE HealthCare solutions and make the workflow of the interventional radiologists and oncologists even simpler and faster.”
Interventional CT capabilities are considered a top purchase driver in the performance and premium CT segments 1, making it a high opportunity growth driver in the 2022-2026 period 2. The global Interventional Radiology market includes CT interventional guidance, and the IMACTIS acquisition provides GE HealthCare with access to this growing opportunity. While this innovation currently focuses on CT, GE HealthCare plans to expand the technology to its image guided therapy (IGT) business to drive further growth. Additionally, interventional guidance is increasing due to the growing worldwide need across an array of care areas including oncology, cardiology, urology, nephrology, and gastroenterology 3.
The IMACTIS CT-Navigation™, which includes an integrated workstation, guidance software, and disposable procedure kit, is currently approved under the European Union’s Medical Devices Regulation (MDR) and has FDA clearance for use within the U.S. GE HealthCare is a leader in CT with a large install base and global scale, which provides significant opportunities for the IMACTIS CT-Navigation™ system at existing client sites.
The consummation of the transaction is subject to customary closing conditions, including review by the relevant governmental authorities in France. Financial details of the transaction have not been disclosed publicly. GE HealthCare intends to fund this transaction with cash on hand.
Hogan Lovells acted as legal advisor and Apparius served as financial advisor to IMACTIS. Shearman & Sterling LLP acted as legal advisor to GE HealthCare.
This release contains forward-looking statements. These forward-looking statements might be identified by words, and variations of words, such as “will,” “expect,” “may,” “would,” “could,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “potential,” “position,” “forecast,” “target,” “outlook,” and similar expressions. These forward-looking statements may include, but are not limited to, statements about the transaction, the expected results of the transaction, and growth opportunities. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of GE HealthCare (the “Company”). Factors that could cause the Company’s actual results to differ materially from those described in its forward-looking statements include, but are not limited to, operating in highly competitive markets; the actions or inactions of third parties with whom the Company partners and the various collaboration, licensing, and other partnerships and alliances the Company has with third parties; demand for the Company’s products, services, or solutions and factors that affect that demand; management of the Company’s supply chain and the Company’s ability to cost-effectively secure the materials it needs to operate its business; disruptions in the Company’s operations; the global COVID-19 pandemic and its effects on the Company’s business; maintenance and protection of the Company’s intellectual property rights; the impact of potential information technology, cybersecurity or data security breaches; compliance with the various legal, regulatory, tax, and other laws to which the Company is subject and related changes, claims, or actions; environmental, social, and governance matters; the Company’s ability to successfully complete strategic transactions; the Company’s ability to operate effectively as an independent, publicly-traded company and achieve the benefits the Company expects from its spin-off from General Electric Company; and the incurrence of substantial indebtedness in connection with the spin-off and any related effect on the Company’s business. Please also see the “Risk Factors” section of the Company’s Form 10 filed with the U.S. Securities and Exchange Commission and any updates or amendments it makes in future filings. There may be other factors that could cause the Company’s actual results to differ materially from those projected in any forward-looking statements the Company makes. The Company does not undertake any obligation to update or revise its forward-looking statements except as required by applicable law or regulation.
About GE HealthCare
GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 100 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from prevention and screening, to diagnosis, treatment, therapy, and monitoring. We are an $18 billion business with 51,000 employees working to create a world where healthcare has no limits.
IMACTIS is a France-based company that was founded in 2009 and created its CT-Navigation™, a unique interventional radiological innovation, for the benefit of physicians, caregivers, and patients, as demonstrated by independent clinical studies. Computed tomography (CT)-guided interventional radiology uses minimally invasive techniques to perform a range of diagnostic and therapeutic medical procedures such as ablations, aspiration, biopsies, and wound/body cavity drainage as well as others.
CT-Navigation™, which has already been used in more than 14,000 interventions, is readily available and is compatible with a wide range of equipment. The IMACTIS Interventional Guidance, assistance, and 3D navigation enables healthcare professionals to reach the target organ or lesion, with improved accuracy and speed, and with reduced radiation, which have been consistently identified as key unmet needs worldwide in percutaneous (skin piercing) interventional radiology. IMACTIS CT-Navigation™ addresses these needs, in an intuitive and efficient way, with minimal set up time and a short learning curve.
1 GE-led CT Concept test & Conjoint Analysis
2 Frost & Sullivan, Global CT Equipment Procedure Volumes and Reimbursement Growth Opportunities, Jan 2022
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PUB: 01/09/2023 04:38 PM/DISC: 01/09/2023 04:37 PM