GE HealthCare’s (GEHC) New Launch to Enhance Cardiac Care

GE HealthCare Technologies Inc. GEHC recently announced the launch of Caption AI artificial intelligence (AI)-driven software for rapid cardiac assessments at the point of care on Vscan Air SL. The company will showcase the Vscan Air SL with Caption AI at the upcoming American College of Cardiology (ACC) Annual Scientific Session & Expo.

Besides the Vscan Air SL, GE HealthCare will also showcase its suite of innovative products and solutions across the cardiology care pathway at ACC 2024. This includes CardioVisio for Atrial Fibrillation, a digital, patient-centric clinical decision support tool, which includes the most recent ACC guidelines.

The launch of Vscan Air SL with Caption AI joins the 60 AI-enabled medical device authorizations from GE HealthCare in the United States. Of these, approximately 30 are AI-enabled ultrasound innovations.

The latest launch is expected to strengthen GE HealthCare’s capabilities in advancing its portfolio of cardiovascular solutions and boost its Ultrasound business.

Significance of the Launch

Per GE HealthCare’s estimates, cardiovascular disease is currently the leading cause of death worldwide and the prevalence is expected to continue to rise as people live longer and the population increases.

Although early detection of heart disease is critical to improve patient outcomes, providing rapid echocardiographic assessments at the point of care can be difficult in resource-constrained facilities and practices. Per the company, Vscan Air SL with Caption AI is designed to lower the threshold for healthcare professionals to be able to capture cardiac images so that even non-expert ultrasound users can take a quick look at patients’ hearts.

Per an expert familiar with the use of Vscan Air SL with Caption AI, innovations like the current offering are expected to support rapid and confident assessments at the point of care, thereby transforming cardiac care.

Per management, the integration of Caption AI with the Vscan Air SL handheld ultrasound will likely empower users with guidance and tools for high-quality ultrasound scans and support the earlier detection of cardiac diseases. Management also feels that the acquisition of Caption Health in 2023 continues to expand the capabilities of GE HealthCare’s products and solidifies its position in ultrasound and the emerging AI space.

Industry Prospects

Per a report by MarketsandMarkets, the global ultrasound market was valued at $8.5 billion in 2023 and is anticipated to reach $11.6 billion by 2028 at a CAGR of 6.3%. Factors like the increasing patient population, the rising prevalence of chronic diseases and the growing focus on non-invasive procedures are likely to drive the market.

Given the market potential, the latest launch is expected to provide a significant boost to GE HealthCare’s business globally.

Notable Developments in AI

Last month, GE HealthCare announced the launch of the Prostate Volume Assist urology-based AI software feature. The AI-based software feature is designed to support clinicians in prostate imaging, biopsies and guiding treatment.

The same month, GE HealthCare used NVIDIA’s technology to develop its recent research model, SonoSAMTrack, which builds upon its long-term AI collaboration with the latter.

Also in March, GE HealthCare announced plans to evolve its long-term AI partnership with Mass General Brigham’s commercial AI business, Mass General Brigham AI. Through the collaboration, the companies aim to integrate medical imaging foundation models into their AI research work, with a strong focus on responsible AI practices.

Price Performance

Shares of GE HealthCare have gained 9.1% in the past year against the industry’s 2.7% decline. The S&P 500 has witnessed 25.1% growth in the said 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 DaVita Inc. DVA, Cardinal Health, Inc. CAH and Cencora, Inc. COR.

DaVita, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.

DaVita’s shares have gained 65.8% compared with the industry’s 20.5% rise in the past year.

Cardinal Health, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.

Cardinal Health has gained 44.7% compared with the industry’s 10.7% rise in the past year.

Cencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.

Cencora’s shares have rallied 50.8% compared with the industry’s 3.8% rise in the past year.

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