The acquisition will help GE Healthcare to expand its $3bn ultrasound business from diagnostics into the surgical space
GE Healthcare to acquire BK Medical for $1.45bn. (Credit: Gerd Altmann from Pixabay)
GE Healthcare, the healthcare business of GE, has agreed to acquire surgical visualisation firm BK Medical from Altaris Capital Partners for $1.45bn.
Based in Boston and Copenhagen, BK Medical provides advanced ultrasound technology and an active imaging platform, which includes advanced software algorithms.
The company claims that its solutions are designed to allow surgeons to make real-time, data-based decisions during surgical procedures, providing better clinical outcomes and reduced costs for patients, physicians, and the healthcare system.
With more than 650 employees, BK Medical has a global installed base of over 14,000 ultrasound platforms.
The acquisition will help GE Healthcare to expand its $3bn ultrasound business from diagnostics into the surgical space
GE Healthcare president and CEO Kieran Murphy said: “Ultrasound today forms an integral part of many care pathways, and BK Medical is a strategic and highly complementary addition to our growing and profitable Ultrasound business.
“This transaction helps GE Healthcare continue to expand beyond diagnostics into surgical and therapeutic interventions, simplifying decision-making for clinicians and equipping them with greater insights to deliver faster, more personalised care for their patients – representing another step toward delivering precision health.”
The deal will facilitate BK Medical’s Active Imaging platform to reach new clients and new markets around the world.
Also, the integration of GE Healthcare’s diagnostic imaging technology with BK’s ability will enable decision-making and surgical visualisation in intervention, allowing better decision-making throughout the care continuum.
BK Medical president and CEO Brooks West said: “We are immensely proud of the organisation and of the life-changing technology that we have built at BK Medical, and look forward to our future as part of the GE Healthcare family.
“Combining our expertise in intraoperative imaging and surgical navigation with GE Healthcare’s many strengths and global presence will accelerate our mission to change the standard of care in surgical interventions.
“Our mission to help surgeons make critical decisions using active imaging aligns well with GE Healthcare’s mission to help physicians make more informed decisions and improve patient outcomes, and we are eager to begin this new chapter.”
The acquisition is expected to complete next year, pending review by the relevant regulatory authorities.
Evercore severed as an exclusive financial advisor and Gibson, Dunn and Crutcher acted as a legal advisor to GE on the transaction.
J.P. Morgan Securities served as a lead financial advisor, Morgan Stanley acted as a financial advisor, while Latham Watkins and Schiff Hardin provided legal services to BK Medical on the deal.