GE HealthCare and Tampa General Hospital Expand Long-Term Partnership to Benefit Patients and Clinicians Across the State of Florida

Rhea-AI Summary

GE HealthCare (Nasdaq: GEHC) and Tampa General Hospital (TGH) are expanding their long-term partnership to deploy GE HealthCare’s Imaging and Ultrasound technology solutions across TGH Imaging’s outpatient facilities in Florida. This collaboration aims to provide more precise and timely diagnoses, improving patient outcomes and treatment plans. TGH Imaging operates 21 locations with over 65 board-certified radiologists. Previous successful implementations include a command center with GE HealthCare’s Command Center Software and a capital refresh plan for imaging technologies. TGH Imaging was also the first in Florida to install GE HealthCare’s Omni Legend digital PET/CT system in March 2023.

Positive

• GE HealthCare's advanced imaging and ultrasound technology will be deployed across 21 TGH Imaging locations.
• Partnership aims to improve diagnostic accuracy and patient outcomes.
• TGH Imaging boasts over 65 board-certified radiologists across 11 subspecialties.
• Previous successful implementations include a command center and capital refresh plans.
• TGH Imaging was the first in Florida to install GE HealthCare’s Omni Legend digital PET/CT system.

Negative

• No specific negative aspects related to financial performance, clinical data, or business development were mentioned in the PR.

Medical Technology Expert

From a medical technology standpoint, the expansion of GE HealthCare's partnership with Tampa General Hospital (TGH) is significant. GE HealthCare's Imaging and Ultrasound technologies are known for their precision and ability to provide faster and more accurate diagnoses. This is crucial, especially for outpatient facilities where timely diagnosis can significantly impact treatment outcomes. The deployment of these advanced technologies can improve the efficiency and effectiveness of radiologists at TGH Imaging, potentially leading to better patient outcomes.

Moreover, the installation of systems like GE's Omni Legend digital PET/CT system, which TGH Imaging adopted in March 2023, underscores the hospital's commitment to leveraging cutting-edge technology for superior patient care. These systems can enhance the accuracy of diagnostic imaging, which is pivotal in developing effective treatment plans. For retail investors, this partnership signals GE HealthCare's strength and influence in the healthcare technology market, reflecting positively on its stock.

Financial Analyst

From a financial perspective, this partnership is likely to have a positive impact on both GE HealthCare and Tampa General Hospital. For GE HealthCare, the expanded agreement reinforces its position as a key player in the medical technology industry and could lead to increased revenues from the sale and implementation of their advanced imaging and ultrasound solutions. The continuous collaboration since 2019, including successful projects like the CareComm command center and the recent Omni Legend PET/CT installation, illustrates the financial stability and growth potential of this partnership.

For Tampa General Hospital, the investment in state-of-the-art technology can enhance its reputation as a leading academic health system, potentially attracting more patients and funding. This move also indicates prudent capital allocation towards technologies that can lead to improved patient outcomes and operational efficiencies, which are essential factors for sustained financial health. Investors might view this news as a positive indicator of GE HealthCare's strategic growth and innovation-driven approach.

Market Research Analyst

From a market strategy viewpoint, this partnership is a strategic move for GE HealthCare to solidify its market presence in Florida, a state with a growing population and increasing healthcare demands. By partnering with Tampa General Hospital, GE HealthCare not only enhances its brand visibility but also demonstrates its commitment to addressing the healthcare needs of a diverse patient base.

For TGH, aligning with a prominent technology provider like GE HealthCare can differentiate its services, making it a preferred choice for patients seeking advanced medical care. This can boost patient trust and satisfaction, contributing to higher patient retention and acquisition. For investors, this partnership highlights GE HealthCare's proactive approach in forming alliances that drive growth and innovation, which is important for long-term market leadership.

CHICAGO--(BUSINESS WIRE)-- GE HealthCare (Nasdaq: GEHC), a leading medical technology innovator, and Tampa General Hospital (TGH), one of the nation’s leading academic health systems, continue to strengthen their long-term partnership by announcing an agreement to deploy GE HealthCare’s Imaging and Ultrasound technology solutions to benefit clinicians and patients in TGH Imaging’s outpatient facilities across the state of Florida.

Both organizations are collaborating to help deliver more precise and timely diagnoses for patients, which can enable more effective treatment plans and improved patient outcomes.

“We’re on a mission to transform health care through innovation and technology. By investing in GE HealthCare’s technologies, we’re not just focused on enhancing the patient experience, but also improving patient outcomes. Faster and more accurate diagnoses can help lead to better treatment plans and more lives saved,” said John Couris, president and CEO of Tampa General.

TGH Imaging provides advanced radiology services in a comfortable, convenient, outpatient setting at 21 locations throughout Hillsborough, Pasco, Pinellas and Palm Beach counties in Florida. The team boasts more than 65 board-certified radiologists who hold certifications in all 11 radiology subspecialties and participate in the academic missions of research and teaching through serving as faculty for University of South Florida Morsani College of Medicine (USF Health), Department of Radiology. GE HealthCare’s imaging technologies will help enable TGH Imaging radiologists to do their best work with a focus toward providing faster and more accurate diagnosis and better treatment planning, and improved patient experience.

“Patients turn to Tampa General for world-class care, and that requires innovative technologies,” said Sherri Lewman, senior vice president, Enterprise Imaging at Tampa General Hospital. “Through our relationship with GE HealthCare, we are helping to ensure every patient – no matter how simple or complex their condition – has the best chance for the best possible outcome.”

Tampa General Hospital and GE HealthCare have a history of collaborating, including a strategic agreement dating back to 2019. The relationship has enabled successful implementations, such as CareComm command center with GE HealthCare’s Command Center Software and a capital refresh plan for imaging technology solutions throughout its facilities. In March 2023, TGH Imaging was the first in the state of Florida to install GE HealthCare’s Omni Legend digital PET/CT system.

“We continue to value and realize the power of our long-term partnership with Tampa General Hospital and TGH Imaging,” said Catherine Estrampes, president and CEO, U.S. and Canada at GE HealthCare. “Our shared respect and the openness with which we collaborate have allowed us to make real progress together in executing creative solutions to address current healthcare challenges.”

About GE HealthCare Technologies Inc.

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 125 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 diagnosis, to therapy, to monitoring. We are a $19.6 billion business with approximately 51,000 colleagues working to create a world where healthcare has no limits.

Follow us on LinkedIn, X (formerly Twitter), Facebook, Instagram, and Insights for the latest news, or visit our website https://www.gehealthcare.com/ for more information.

About Tampa General Hospital

Tampa General Hospital, a 981-bed, not-for-profit, academic health system, is one of the largest hospitals in America and delivers world-class care as the region’s only center for Level l trauma and comprehensive burn care. Tampa General Hospital is the highest-ranked hospital in the market in U.S. News & World Report's 2023-24 Best Hospitals, with six specialties ranking among the top 50 best hospital programs in the United States. Tampa General Hospital has been designated as a model of excellence by the 2022 Fortune/Merative 100 Top Hospitals list. The academic health system’s commitment to growing and developing its team members is recognized by two prestigious Forbes magazine rankings – in the top 100 nationally in the 2023 America's Best Employers for Women and top 25 in Florida in the 2023 America’s Best Employers by State. Tampa General is the safety net hospital for the region, caring for everyone regardless of their ability to pay, and in fiscal year 2021, provided a net community benefit of approximately $240.3 million in the form of health care for underinsured patients, community education, and financial support to community health organizations in Tampa Bay. It is one of the nation’s busiest adult solid organ transplant centers and is the primary teaching hospital for the USF Health Morsani College of Medicine. With six medical helicopters, Tampa General Hospital transports critically injured or ill patients from 23 surrounding counties to receive the advanced care they need. Tampa General houses a nationally accredited comprehensive stroke center, and its 32-bed Neuroscience, Intensive Care Unit is the largest on the West Coast of Florida. It also is home to the Muma Children’s Hospital at TGH, the Jennifer Leigh Muma 82-bed neonatal intensive care unit, and a nationally accredited rehabilitation center. Tampa General Hospital’s footprint includes TGH North which is comprised of three hospitals and several outpatient locations in Citrus and Hernando counties, 17 Tampa General Medical Group Primary Care offices, TGH Family Care Center Kennedy, TGH Outpatient Center, TGH Virtual Health, and 21 TGH Imaging outpatient radiology centers throughout Hillsborough, Pasco, Pinellas and Palm Beach counties. Tampa Bay area residents also receive world-class care from the TGH Urgent Care powered by Fast Track network of clinics. To see a medical care professional live anytime, anywhere on a smartphone, tablet or computer, visit Virtual Health | Tampa General Hospital (tgh.org). As one of the largest hospitals in the country, Tampa General Hospital is the first in Florida to partner with GE Healthcare and open a clinical command center that provides real-time situational awareness to improve and better coordinate patient care at a lower cost. For more information, go to www.tgh.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240530542767/en/

GE HealthCare Media Contact:

Laura Fait

M 414 429 2675

Laura.Fait@gehealthcare.com

TGH Media Contact:

Amanda Bevis

M 202 680 9262

amanda@redhillsfl.com

Source: GE HealthCare

FAQ

What technologies will GE HealthCare deploy at Tampa General Hospital?

GE HealthCare will deploy Imaging and Ultrasound technology solutions across TGH Imaging’s outpatient facilities.

How many TGH Imaging locations will benefit from GE HealthCare's technology?

GE HealthCare’s technology will be deployed at 21 TGH Imaging locations in Florida.

What is the objective of GE HealthCare and Tampa General Hospital's partnership?

The partnership aims to provide more precise and timely diagnoses, leading to improved patient outcomes and treatment plans.

What unique technology did TGH Imaging install in March 2023?

TGH Imaging installed GE HealthCare’s Omni Legend digital PET/CT system in March 2023.

How many radiologists are part of TGH Imaging?

TGH Imaging has over 65 board-certified radiologists across 11 subspecialties.