GE HealthCare Technologies, Inc GEHC has introduced Venue Sprint, a new portable ultrasound system designed to meet the growing demand for point-of-care ultrasound across various healthcare settings.
Equipped with powerful Venue software, AI-enabled tools and wireless Vscan Air dual-probes, the Venue Sprint delivers high-quality imaging and real-time insights in critical care, emergency medicine and medical transport environments.
The device enhances workflow efficiency by simplifying learning, offering excellent image quality and integrating with other Venue systems. It provides intuitive documentation tools to streamline manual processes and enhance consistency. The launch is part of GE HealthCare’s effort to expand access to life-saving ultrasound technologies with ease of use and advanced capabilities.
Likely Trend of GEHC Stock Following the News
After the news release, shares of GEHC rose 2.4% to $90.62 at yesterday’s closing. The latest development will likely boost the company’s medical technology, pharmaceutical diagnostics and digital solutions.
With a commitment to advancing personalized and compassionate care, the company innovates in areas like imaging and diagnostics, simplifying the patient journey. As GE HealthCare drives these advancements, the recent rise in its stock price is anticipated to boost market sentiment, reflecting confidence in its ongoing contributions to the healthcare sector.
Significance of GE Healthcare’s Launch of Venue Sprint
Per GE HealthCare, the ViewPoint 6 software is now available on the Venue Sprint and provides features like Direct Send for streamlined report finalization and expanded functionality aligned with American College of Emergency Physicians guidelines. By addressing the need for better diagnostics and workflow optimization, Venue Sprint is vital in reducing health inequities and supporting clinicians to make fast and confident clinical decisions.
The Venue Sprint ultrasound system offers access to Caption Guidance, which provides on-screen, step-by-step instructions to capture diagnostic-quality cardiac images. Additionally, the systems feature optional clinical tools, such as the Bladder Volume Tool for fast and simple bladder volume calculations, Auto Volume Flow for real-time arterial flow measurement and Venue Coach MSK for reference images, anatomy markups and tutorials to aid scan acquisition.
GE HealthCare will showcase its advanced Venue family ultrasound systems, including the Venue Sprint, at the ACEP Scientific Assembly from Sept. 29 to Oct. 2, 2024, in Las Vegas. These systems are currently available in the United States and will be launched in key countries worldwide this year. Caption Guidance, an on-screen guidance tool, is available on Venue systems exclusively in the United States.
Market Prospects Favoring GEHC
Per a report in Market Us, the Global AI in Ultrasound Imaging Market size was worth $964.2 million in 2023. It is anticipated to reach $2.3 billion by 2033 at a CAGR of 11.4%.
The robust growth is likely to be driven by factors like technological advancements in artificial intelligence, particularly in computer vision and deep learning, which enable more accurate diagnosis by automating the detection of anomalies in medical images. Additionally, demographic shifts, including an aging population and rising healthcare demands, are increasing the need for advanced medical imaging solutions.
GEHC’s Stock Price Performance
Shares of GE Healthcare have risen 17.2% year to date against the industry’s 9.7% decline. The S&P 500 has returned 17.8% in the same time frame.
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Zacks Rank & Key Picks
Currently, GE Healthcare carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Universal Health Services UHS, ATI Physical Therapy (ATIP) and Aveanna Healthcare AVAH. While Universal Health Services sports a Zacks Rank #1 (Strong Buy), ATI Physical Therapy and Aveanna Healthcare carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry’s 34.8% growth year to date.
ATI Physical Therapy’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 7.25%.
ATIP’s shares have gained 5.5% year to date compared with the industry’s 18.6% growth.
Aveanna Healthcare’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 47.5%.
AVAH’s shares have surged 104.5% year to date compared with the industry’s 15.7% growth.
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