GE HealthCare Technologies Inc. - GEHC STOCK NEWS

GE HealthCare has announced the launch of Pixxoscan (gadobutrol), a new Magnetic Resonance Imaging (MRI) contrast agent, expanding its portfolio alongside Clariscan (gadoteric acid). Pixxoscan shares the same active substance and formulation as the reference product, Gadovist, and is aimed at enhancing the accessibility of MRI procedures for radiology departments. Market authorization is already in place in Austria, with additional approvals expected in several European countries throughout 2023. Pixxoscan is indicated for various MRI applications, offering high relaxivity for improved visualization of tissues and abnormalities. The product will be available in multiple packaging options, enhancing convenience and reducing environmental impact.

GE HealthCare has launched the next-generation bkActiv system, expanding its application into Urology, Colorectal, and Pelvic Floor surgeries. This advanced intraoperative ultrasound imaging system is designed to enhance surgeons' ability to visualize anatomical structures, offering exceptional control during procedures. Key features include automatic no-touch autogain and advanced algorithms for superior image quality, enabling confident, real-time surgical decision-making with minimal user interaction. The bkActiv’s new advancements include detailed imaging capabilities for prostate, kidney, and bladder surgeries, as well as sophisticated color Doppler technology. This launch is part of GE HealthCare's strategy to leverage its acquisition of BK Medical and expand its ultrasound offerings.

GE HealthCare reported a strong financial performance for Q1 2023, with revenues of $4.7 billion, an 8% increase year-over-year. Organic revenue growth reached 12%, significantly aided by improved supply chain fulfillment. Net income attributable to the company was $372 million, a decline from $389 million in Q1 2022. Diluted EPS fell to $0.41 from $0.86 in the previous year, primarily due to a noncontrolling interest redemption. However, Adjusted EBIT rose to $664 million, reflecting an increase in operational efficiency, while cash flow from operations remained steady at $468 million.

The board declared a dividend of $0.03 per share, and the company maintains its organic revenue growth guidance for 2023 between 5% to 7%.

GE HealthCare (Nasdaq: GEHC) has received US FDA 510(k) clearance for its CARESCAPE Canvas patient monitoring platform. This innovation enhances patient care with a unified, flexible, and scalable monitoring solution, designed to adapt to the individual needs of patients. The platform features smart parameter technology that supports various patient acuity levels, with a focus on ease of use and standardization. CARESCAPE Canvas has demonstrated significant sustainability improvements, including a 53% reduction in packaging volume and a 25% reduction in energy consumption compared to earlier models. The product was awarded the prestigious iF Design Award 2023 for its excellence in medical product design. It has been approved for usage in the EU since June 2022 and is now cleared for the US market.

GE HealthCare (Nasdaq: GEHC) has launched CT-Navigation, enhancing its precision care strategy by providing clinicians with real-time, 3D CT imaging for improved guidance during interventional procedures. This innovative technology allows for safer needle guidance, reducing radiation exposure and procedure time while improving patient outcomes. CT-Navigation simplifies intervention planning and offers real-time navigation, thus minimizing variability across procedures. Developed by IMACTIS, CT-Navigation is now part of GE HealthCare's portfolio following a recent acquisition and has received FDA clearance and EU Medical Devices Regulation approval. The company anticipates expanding this technology to its image-guided therapy business soon, increasing its market reach and clinical applications.

GE HealthCare (NASDAQ: GEHC) is set to showcase its innovative digital healthcare solutions at the HIMSS Global Health Conference in Chicago from April 17-21, 2023. Key products include Viewpoint 6, a scalable ultrasound IT solution, and ReadySee, an asset management and network supervision tool enhancing device monitoring and cybersecurity. The Portrait Mobile monitoring solution allows for wireless patient monitoring, while the MUSE Ecosystem integrates patient-acquired ECGs into existing workflows. GE HealthCare aims to improve patient care outcomes through its technology while advancing personalized and connected healthcare. The company operates an $18.3 billion enterprise with over 50,000 employees, committed to enhancing healthcare efficiency and patient experience.

GE HealthCare (Nasdaq: GEHC) is set to announce its first quarter 2023 financial results before the market opens on April 25, 2023. A conference call and webcast will be held at 8:00 a.m. Eastern Time on the same day, accessible through their Investor Relations website. GE HealthCare, a leader in medical technology and digital solutions, aims to enhance healthcare efficiency and patient outcomes. The company operates with a workforce of 50,000 employees and reported revenues of $18.3 billion. For more details, visit GE HealthCare's website.