GE HealthCare Technologies Inc. - GEHC STOCK NEWS

GE HealthCare has completed Phase I subject recruitment for a novel manganese-based macrocyclic MRI contrast agent. Announced at the European Congress of Radiology in Vienna, this investigational agent offers a potential alternative to traditional gadolinium-based agents, addressing concerns about gadolinium retention in the body. The clinical trial, led by Hasse K. Zaré at Oslo University Hospital, aims to assess its safety and elimination profile. Manganese, being naturally occurring in the body, ensures efficient excretion, positioning this agent as a promising addition to GE HealthCare's portfolio in precision imaging.

GE HealthCare has granted SonoThera exclusive global commercial licensing rights for its Optison® and Sonazoid® microbubble products. These products will aid the development of SonoThera’s innovative ultrasound-guided, nonviral gene therapy platform. The technology aims to non-invasively deliver diverse nucleic acid payloads to various organs, addressing significant delivery challenges in gene therapy. SonoThera is currently in preclinical development, preparing for Phase 1 clinical trials. Terms of the licensing agreement were not disclosed, but the collaboration underscores a shared commitment to improving patient outcomes.

GE HealthCare (Nasdaq: GEHC) announces that President and CEO Peter Arduini, along with Vice President and CFO Helmut Zodl, will present at two investor conferences in March 2023.

• Citi’s 2023 Healthcare Services, Medtech, Tools & HCIT Conference on March 1, 2023, at 12:30 pm ET in New York City.
• Oppenheimer 33rd Annual Healthcare Conference on March 14, 2023, at 10:00 am ET (virtual event).

Investors can access the events live on GE HealthCare’s Investor Relations website. GE HealthCare is a leading global innovator in medical technology and digital solutions, focused on improving patient care.

GE HealthCare has signed an agreement to acquire Caption Health, Inc., an AI healthcare leader focused on early disease detection via ultrasound. This acquisition, strategic for GE's $3 billion ultrasound business, introduces AI-guided imaging, making ultrasounds more accessible for healthcare professionals. The technology aims to improve heart failure detection, particularly in at-risk patients, ultimately enhancing patient outcomes and reducing hospitalization rates. The deal's financial terms are undisclosed, and GE plans to fund it using cash on hand.

GE HealthCare reported a strong performance for 4Q 2022, with revenues of $4.9 billion, up 8% year-over-year, and 13% organic revenue growth. Net income was $554 million compared to $564 million last year, while adjusted EBIT increased to $844 million from $827 million. The net income margin declined to 11.2% from 12.3%. Despite these challenges, the company reaffirmed 2023 guidance, anticipating organic revenue growth of 5% to 7% and adjusted EPS between $3.60 to $3.75. The CEO expressed confidence in future revenue and margin growth driven by innovation and market demand.

GE HealthCare has expanded its collaboration with Sound Technologies to distribute the Vscan Air, a portable ultrasound device for veterinary practices in the U.S. This agreement enhances access to advanced ultrasound technologies, enabling precise examinations of various animals without ionizing radiation. The Vscan Air supports both iOS and Android applications, making it versatile and user-friendly. With a proven track record, GE HealthCare has over 30,000 ultrasound systems impacting more than 50 million patients globally. This partnership aims to revolutionize veterinary care, as highlighted by key industry leaders.

GE HealthCare (Nasdaq: GEHC) will release its fourth quarter and full year 2022 financial results on January 30, 2023, before the market opens. A conference call and webcast will follow at 8:00 a.m. Eastern Time, accessible via their Investor Relations website. The company, a leader in medical technology and digital solutions, aims to enhance patient care efficiency and effectiveness. With over 51,000 employees and an $18 billion market presence, GE HealthCare is focused on advancing personalized healthcare over its century-long history.

GE HealthCare reported strong revenue growth for Q4 and full-year 2022, driven by high customer demand and improved pricing. Q4 revenue reached approximately $4.9 billion, a 7% year-over-year increase, with organic growth at 12%. Full-year 2022 revenue totaled about $18.3 billion, marking a 4% growth. For 2023, the company anticipates organic revenue growth between 5% and 7%, an Adjusted EBIT margin of 15.0% to 15.5%, and a Free cash flow conversion exceeding 85%.

GE HealthCare (GEHC) has announced its acquisition of IMACTIS, a French company specializing in computed tomography (CT) interventional guidance. This move aims to enhance GE HealthCare's IMACTIS CT-Navigation system, leveraging the company’s global scale and installed base for future expansion. IMACTIS's CT-Navigation technology facilitates accurate and efficient minimally invasive procedures, improving patient outcomes. The transaction is subject to customary closing conditions and will be funded with cash on hand. Financial details remain undisclosed.