GE has entered into an agreement to acquire BK Medical, a leader in advanced surgical visualization, from Altaris Capital Partners for a cash purchase price of $1.45 billion.

Getty Images


September 23, 2021 — GE has entered into an agreement to acquire BK Medical, a leader in advanced surgical visualization, from Altaris Capital Partners for a cash purchase price of $1.45 billion.

BK Medical is an innovator in global intraoperative imaging and surgical navigation, used to guide clinicians during minimally invasive and robotic surgeries and to visualize deep tissue during procedures in neuro and abdominal surgery, and in ultrasound urology. BK Medical is headquartered in Boston and Copenhagen with more than 650 employees and is delivering double-digit revenue growth.

GE Healthcare President and CEO Kieran Murphy said, “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. 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. 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.”

GE Healthcare Ultrasound President and CEO Roland Rott said, “Adding the fast-growing and relatively new field of real-time surgical visualization to GE’s pre- and post-operative ultrasound capabilities will create an end-to-end offering through the full continuum of care—from diagnosis through therapy and beyond. GE Healthcare and BK Medical share a passion for clinical innovation, and I’m excited to welcome BK Medical to our team.”

This transaction is expected to create value by further strengthening BK Medical, including through significant synergies with the benefit of GE’s technology and commercial scale. This transaction enables BK Medical’s Active Imaging platform to reach new customers and new markets around the world, and the combination of GE Healthcare’s diagnostic imaging technology with BK’s ability to enable decision-making and surgical visualization in intervention will allow better decision-making throughout the care continuum. GE Healthcare expects BK Medical to deliver rapid revenue growth as well as margin expansion and free cash flow growth. GE Healthcare also expects high-single-digit return on invested capital by year five.

The parties expect the transaction to close in 2022, subject to review by the relevant regulatory authorities.

Evercore acted as exclusive financial advisor to GE on the transaction. Gibson, Dunn and Crutcher acted as legal advisor to GE. J.P. Morgan Securities LLC served as lead financial advisor, Morgan Stanley & Co. LLC served as financial advisor, and Latham Watkins LLP and Schiff Hardin LLP acted as legal advisor to BK Medical.

For more information: www.ge.com

 

 


Related Content

News | Radiology Business

May 26, 2023 — HIMSS has appointed two technology executives at the helm as chair and vice chair of the HIMSS Board of ...

Time May 26, 2023
arrow
News | Radiology Business

May 26, 2023 — Siemens Healthineers and CommonSpirit Health have agreed to acquire Block Imaging. This new acquisition ...

Time May 26, 2023
arrow
News | Computed Tomography (CT)

May 26, 2023 — GE HealthCare, a leading medical technology innovator, announced today its largest ever CT deal in the ...

Time May 26, 2023
arrow
Feature | Radiology Business

May 24, 2023 — Park Ridge, N.J.-based publisher Wainscot Media has named Laura Dowden as managing director, group ...

Time May 24, 2023
arrow
News | Pediatric Imaging

May 24, 2023 — A new advanced form of computed tomography (CT) imaging called photon-counting computed tomography (PCCT) ...

Time May 24, 2023
arrow
News | Artificial Intelligence

May 24, 2023 — Since the launch of ChatGPT in November 2022, the use of large language models (LLMs) powered by ...

Time May 24, 2023
arrow
News | ASTRO

May 23, 2023 — More than 9 in 10 radiation oncologists report that their practices face clinical staff shortages ...

Time May 23, 2023
arrow
News | Radiology Business

May 23, 2023 — Intelerad Medical Systems, a leading global provider of enterprise medical imaging solutions, announced ...

Time May 23, 2023
arrow
News | PET Imaging

May 22, 2023 — New research finds that the brains of otherwise healthy military personnel who are exposed to explosions ...

Time May 22, 2023
arrow
News | ACR

May 19, 2023 — The Radiology Leadership Institute (RLI) named Norman J. Beauchamp Jr., MD, MHS, FACR, Arl Van Moore Jr ...

Time May 19, 2023
arrow
Subscribe Now