GE HealthCare Closes $2.3B Deal for Intelerad

GE Healthcare announced that it has completed the acquisition of Intelerad, a medical imaging software provider for the healthcare industry, for a base price of $2.3 billion.

Intelerad’s tech and customer base will grow GE HealthCare’s reach into high-growth specialized clinics and ambulatory care environments, complementing its strength in hospital-based imaging. The combined capabilities will create a more comprehensive, cloud-first and artificial intelligence (AI)-enabled imaging offering.

Now that the acquisition is closed, Intelerad will operate as part of GE HealthCare’s Imaging business and serve its enterprise imaging solution customers in the U.S., Canada, the UK, and Oceania.

GE HealthCare estimates Intelerad’s revenues in the first full year of ownership to be about $270 million, of which about 90% is recurring. Intelerad revenue is rising in the low-double-digit range annually and is expected to accelerate under GE HealthCare’s leadership.

“We are excited to welcome Intelerad to the GE HealthCare team to create an end-to-end, cloud-first and AI-enabled enterprise imaging solution for customers,” said Roland Rott, President and CEO, Imaging, GE HealthCare. “Intelerad’s cloud-enabled software will support GE HealthCare’s imaging technologies and AI capabilities by simplifying complex workflows, and providing patients and customers with more precise, connected care across the continuum.”

The transaction was first announced in November, for $2.3 billion paid in cash. Intelerad’s business model accelerates GE HealthCare’s movement toward a Software-as-a-Service (SaaS) model.

“Joining GE HealthCare accelerates our vision for a more intelligent, connected imaging ecosystem. Together, we can harness the cloud and AI to break down longstanding barriers in healthcare, empowering clinicians with faster insights and giving patients a more seamless, precise care experience,” said Jordan Bazinsky, CEO of Intelerad.