Medtronic and GE Healthcare announce a collaboration to meet growing need for outpatient care

Rhea-AI Summary

Medtronic and GE Healthcare have announced a collaboration to enhance outpatient care at Ambulatory Surgery Centers (ASCs) and Office Based Labs (OBLs). This partnership aims to address the growing demand for outpatient procedures, fueled by the COVID-19 pandemic and rising disease rates. As CMS approved cardiovascular payments in 2020, the use of fixed c-arm imaging systems has surged in these settings. The collaboration will provide extensive product portfolios, financial solutions, and services to improve workflow and clinical outcomes in outpatient environments.

Positive

• Collaboration addresses the growing demand for outpatient care.
• Access to extensive product portfolios from both companies.
• Financial solutions and exceptional service aimed at improving efficiency.

Negative

• High costs and complexity associated with expanding or building new ASCs.

DUBLIN and CHICAGO, April 28, 2022 /PRNewswire/ -- Providing excellent care inside and outside of the traditional hospital is the new normal for patients, clinicians, and payers seeking more choices without compromising excellent outcomes. Today, Medtronic and GE Healthcare announce a collaboration focused on the unique needs and demand for care at Ambulatory Surgery Centers (ASCs) and Office Based Labs (OBLs). Under this new collaboration, customers can access extensive product portfolios, financial solutions, and exceptional service.

The COVID-19 pandemic accelerated the movement of procedures into the outpatient environment while also driving disease rates higher, resulting in procedure growth in facilities outside traditional hospitals, and this growth trend is expected to continue for years to come.¹ Also, since CMS approved payments for certain cardiovascular procedures in 2020, fixed c-arm imaging systems have been used more and more frequently in ASCs and OBLs for cardiac and peripheral vascular procedures.²

"GE Healthcare Interventional Imaging solutions are built to help our customers deliver care at a higher level for patients. With a predicted increase in outpatient cardiology and peripheral vascular procedures over the coming years, industry leaders like GE Healthcare need to understand and meet the unique needs of ASCs and OBLs," said Jim Rapp, vice president of Interventional Imaging at GE Healthcare. "Our collaboration with Medtronic is one aspect of our efforts to strengthen efficiency, workflow, and clinical outcomes for ASCs and OBLs who work with GE Healthcare."

While patient needs are increasing, there remain high costs and complexity associated with expanding an existing ASC or building a new one. GE Healthcare and Medtronic seek to help ASCs navigate these challenges, bringing the best of each company to deliver high-quality and cost-effective advanced technology, financial solutions, and personal service. For GE Healthcare, this includes consultative planning, construction, a comprehensive suite of equipment (including imaging, monitoring, and ultrasound), and exceptional service and digital solutions, including the Edison-powered AutoRight A.I.-based interventional imaging chain, which can help clinicians provide the right image at the right dose automatically for each patient. For Medtronic, this means providing an extensive portfolio of products for a diverse range of service lines in the ASC and OBL, from cardiac rhythm to pain management, peripheral vascular to kyphoplasty. In addition to products, Medtronic will continue to offer the service that customers have come to expect from their field experts as well as reimbursement support, remote solutions, and more.

"As our customers open centers outside of the hospital, they are looking for support beyond the devices used in medical procedures," said Adam King, senior director of U.S. Enterprise Accounts and Ambulatory Surgery Centers at Medtronic. "From products and devices to equipment and services, we provide a full range of technologies and solutions. Our collaboration with GE Healthcare was formed to better serve the growth of our ASC and OBL customers with extensive technologies and dedicated teams who have expertise in outpatient services and can address all aspects of this evolving sector."

From staff workflow to patient care and more, GE Healthcare and Medtronic experts and solutions help outpatient health center owners and clinicians achieve their vision.

About GE Healthcare
GE Healthcare is the $17.7 billion healthcare business of GE (NYSE: GE). As a leading global medical technology, pharmaceutical diagnostics and digital solutions innovator, GE Healthcare enables clinicians to make faster, more informed decisions through intelligent devices, data analytics, applications and services, supported by its Edison intelligence platform. With over 100 years of healthcare industry experience and around 47,000 employees globally, the company operates at the center of an ecosystem working toward precision health, digitizing healthcare, helping drive productivity and improve outcomes for patients, providers, health systems and researchers around the world.

Follow us on Facebook, LinkedIn, Twitter, Instagram and Insights for the latest news, or visit our website www.gehealthcare.com for more information.

About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE: MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

¹ Sg2 2021 Impact of Change® Forecast: Post-Pandemic Recovery, Rising Acuity and Ambulatory Shifts. Read more: https://www.sg2.com/health-care-intelligence-blog/2021/06/sg2-2021-impact-of-change-forecast/
² The Rise of the Cardiology ASC – Update. Read more: https://www.ghadvisors.net/research-reports/gha-the-rise-of-the-cardiology-asc/

 

Contacts:
Erika Winkels	Ryan Weispfenning
Medtronic plc	Medtronic plc
Public Relations	Investor Relations
+1-763-526-8478	+1-763-505-4626
Emily Davis
GE Healthcare
+1-630-779-0722

 

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SOURCE Medtronic plc

FAQ

What is the Medtronic and GE Healthcare collaboration about?

The collaboration focuses on enhancing outpatient care at Ambulatory Surgery Centers (ASCs) and Office Based Labs (OBLs) by providing comprehensive product portfolios and financial solutions.

How has the COVID-19 pandemic influenced outpatient procedures?

The pandemic has accelerated the shift of procedures into outpatient environments, leading to increased demand for services at ASCs and OBLs.

What financial solutions are being offered in this collaboration?

The collaboration aims to provide financial solutions to help ASCs navigate the high costs and complexities of expanding or building new facilities.

When was this partnership announced?

The partnership was announced on April 28, 2022.

What are the benefits of the collaboration for outpatient care?

Benefits include improved workflow, enhanced clinical outcomes, and support for the increasing number of outpatient cardiology and peripheral vascular procedures.