GE Healthcare (NYSE:GE) announced today that it entered into an agreement to acquire BK Medical for $1.45 billion.
BK Medical develops intraoperative imaging and surgical navigation technology for guiding clinicians during minimally invasive and robotic surgeries, for visualizing deep tissue during procedures in neuro and abdominal surgery and in ultrasound urology, according to a news release.
The company has headquarters in Boston and Copenhagen with more than 650 employees. GE Healthcare said it acquired BK Medical from Altaris Capital Partners and that the company is delivering double-digit revenue growth. The companies expect the transaction to close in 2022.
By acquiring BK Medical, GE Healthcare expects to create value by strengthening the company through what it calls significant synergies with the benefit of GE’s technology and commercial scale.
“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,” GE Healthcare president & CEO Kieran Murphy said in the release. “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 personalized care for their patients—representing another step toward delivering precision health.”
BK Medical President and CEO Brooks West said, “We are immensely proud of the organization 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,” BK Medical president & CEO Brooks West said. “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.”
Original Article: (https://www.massdevice.com/ge-healthcare-to-acquire-bk-medical-and-its-ultrasound-portfolio-for-1-45b/)
