Friday, December 4, 2020

GE Healthcare Signs Largest Ever Single-order Ultrasound Deal in the U.S. Worth $11 Million

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GE stock is pushing up after its subsidiary takes a massive ultrasound order from St. Luke’s University Health Network, where GE Healthcare will install 76 ultrasound systems in 2020.

The subsidiary of General Electric Company (GE), GE Healthcare recently announced that it has signed its largest ever deal in the U.S. with St. Luke’s University Health Network. GE Healthcare will install its ultrasound technology and IT workflow solutions system-wide at St. Luke, bring $11 million to the company.

GE Healthcare will install 76 ultrasound systems that will deploy an AI-powered technology. The company will continue developing modern devices upgrading with time over the next four years to maintain the latest technology for the healthcare system.

St. Luke has ordered the latest ultrasound system based on AI-technology to tackle the complexities and pressure on the system that occurred from exponential growth following expansion and several acquisitions over the last few years. The healthcare system of St. Luke’s will standardize care and provide advanced level technology to its ultrasound users in the Vascular, Echocardiography, and Radiology departments across its 12 hospitals.  

The President and Chief Operating Officer of GE Healthcare, U.S. and Canada, Everett Cunningham commented that working with St. Luke will be an honor for the company in enhancing its mission to provide quality patient care, consistent and clinical results for the people of New Jersey and Pennsylvania. 

Talking about the impact of GE Healthcare’s ultrasound system at St. Luke, Cunningham added:

“St. Luke’s will immediately enhance their staff and patient experience and enable cost savings. This upgrade arrangement over the next four years means they can maintain their fleet with the latest technology developments.”

Among the following deal, St. Luke’s will acquire GE Healthcare’s Vivid E95 for Echocardiography, and LOGIQ E10 for General Imaging. Both of these will connect to Viewpoint 6, GE Healthcare’s post-processing system and automated reporting, and Vscan Extend, a handheld ultrasound device to be used for Cardiology. 

GE Healthcare equipment’s will support St. Luke in providing a better and faster image quality, allowing swift treatment and diagnoses. The Viewpoint 6 system will also help St. Luke’s in saving $300,000 per year in radiologist efficiency gains.

The Network Chairman and Senior Vice President, Department of Radiology at St. Luke’s, Dr. Hal L. Folander said:

“Through our partnership with GE Healthcare, we will maintain this state-of-the-art technology for years to come.”

Market Overview

The recent deal of General Electric’s subsidiary helped the stock to surge in yesterday’s trading session with the stock closing the day at $7.72 up by 5.46% on Thursday. 

General Electric Company (GE) began trading on a positive side during the premarket today spiking up to 2.33%. As we write this at 11:19 A.M. EDT, GE was trading at $7.73 up by 0.13%.

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