GE Healthcare has signed an agreement to acquire Caption Health, a healthcare technology company focused on using artificial intelligence (AI) to help clinicians perform and evaluate echocardiography exams. Financial terms of the deal have not been made public.
The acquisition strengthens GE Healthcare’s ultrasound business, which it already values at approximately $3 billion. The company plans to start integrating Caption Health’s AI models into its ultrasound portfolio by focusing on point of care ultrasound (POCUS) and handheld ultrasound technologies, though that is just the beginning of the company’s long-term strategy.
“We are incredibly proud of the technology we have built and, together with GE HealthCare, look forward to bringing this technology to more patients across the globe,” Caption Health CEO Steve Cashman said in a prepared statement. “Combining our AI applications with GE HealthCare’s ultrasound devices will help accelerate our mission to detect disease earlier, when an easily obtained diagnostic image can be a great equalizer to health quality and outcomes. This will ultimately help us reduce costs and enhance care.”
“Guiding ultrasound users during examinations with the help of AI is of growing importance, especially as we reach a broader set of healthcare professionals,” added Roland Rott, president and CEO of GE Healthcare’s ultrasound division. “Caption Health’s AI applications help enable reliable, consistent ultrasound examinations to deliver more precise diagnoses, improved treatment decision-making, and ultimately improved patient outcomes. This tuck-in acquisition will help expand affordable access to ultrasound imaging to novice users and is aligned with a broader shift to precision care globally.”
Once this acquisition is finalized, Caption Health will still be providing management and administrative services to affiliated providers with the ultimate goal of improving the diagnosis and detection of heart failure and other cardiac conditions.
The news comes at a busy time for healthcare acquisitions. Abbott announced its plans to acquire Cardiovascular Systems for $890 million, for instance, and Globus Medical entered into an agreement to acquire NuVasive for $3.1 billion.