Barrington, IL and Allendale, NJ, October 11, 2007 – GE Healthcare, a unit of General Electric Company (NYSE:GE), today announced that it has completed the acquisition of Dynamic Imaging, LLC (“Dynamic Imaging”), a leader in Web-based image and information management. The acquisition of Dynamic Imaging and its leading IntegradWeb® suite of products, will allow GE Healthcare to expand its offerings of information technology (IT) products and services across all segments of healthcare – throughout hospital integrated delivery networks (IDNs), community hospitals, outpatient imaging centers, radiology group practices, and physician offices. Terms of the acquisition were not disclosed.
“The people, products and culture of Dynamic Imaging are truly world class,” said Don Woodlock, vice president and global general manager, Imaging Solutions, GE Healthcare. “Dynamic Imaging has a strong track record of innovation and a family of top- rated products that are highly complementary to our existing offering. Their research and development team is equally impressive, quickly delivering exciting new products to the marketplace, while working on the industry’s next generation solutions.”
“We are truly excited to be joining forces with GE Healthcare, which already offers a broad range of solutions to the healthcare IT industry,” said Alex Jurovitsky, CEO, Dynamic Imaging. “Dynamic Imaging, through its IntegradWeb product lines, has proven to be quite adept at addressing the industry’s clinical challenges, across all industry segments. The simplicity and power of our Web-based Picture Archiving and Communication System (PACS) and integrated RIS/PACS, combined with GE’s broad suite of IT offerings, will redefine the market’s expectation for complete interpretive and review access, by any authorized user, of any imaging study, anytime, anywhere. Applying the capabilities of IntegradWeb to GE’s PACS offerings, the newfound flexibility for radiologists and referring physicians worldwide, as well as the broader impact to patient care, will be simply astounding.”
The Dynamic Imaging Solutions unit will assist healthcare organizations in growing their imaging-based procedural medicine business through dramatically improved provider physician and patient access, streamlined workflow and instantaneous reporting of imaging results to referring physicians, all on a common platform with workflow tools for all settings. Dynamic Imaging offers a Web-based PACS that scales from the needs of physician offices to academic medical centers, providing a portable and consistent end user experience wherever an Internet connection is available.
“Information technology is revolutionizing healthcare throughout the world. Anticipating, optimizing and tailoring the care of our patients in the most rapid, effective and cost-efficient manner requires user-friendly and manageable access to increasingly staggering volumes of data that cut across all medical specialties. The ability of providers and patients to best utilize multimedia healthcare data is essential,” said Dr. Nogah Haramati, MD, chief of Radiology at Montefiore Medical Center. “Today’s announcement is a giant step forward for healthcare IT. It pairs best practices and best-of-breed systems in the evaluations of patients using cutting edge: functionality, ergonomics, user interfaces and information technology expertise. Patients and healthcare providers world-wide will be the primary beneficiaries.”
The acquisition further builds on GE Healthcare’s strategy to combine early diagnosis with information technology to enable a new “early health” model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention.
ABOUT GE HEALTHCARE
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform, treat and monitor disease, so patients can live their lives to the fullest. GE Healthcare’s broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases and other conditions earlier. Our vision for the future is to enable a new “early health” model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.
ABOUT DYNAMIC IMAGING
Dynamic Imaging is on the forefront of image and information management, bringing affordable filmless and paperless radiology to all members of the imaging community. Dynamic Imaging continues to set new standards through its innovative Web-based PACS, Web-based unified RIS/PACS solution for ambulatory practices (RIS, PACS, billing, document management), intelligent applications, and state-of-the-art workflow tools for all care settings.
Dynamic Imaging’s solutions are used in more than 600 sites worldwide by customers including academic and community-based acute care health care institutions, integrated delivery networks, and imaging centers and radiology group practices of all sizes. For more information about Dynamic Imaging and its products and services, call 1-888-303-PACS or visit www.dynamic-imaging.com.
Principals of Fairmount Partners acted as advisors to Dynamic Imaging in this transaction.
Contact: Richard W. Thatcher, Jr., Managing Director