GE HealthCare is a global leader in medical technology, diagnostics, and digital solutions, focused on improving patient outcomes and advancing precision healthcare.
GE HealthCare recently became an independent company. What was the reason behind that and how has the transition impacted the organization?
To provide context, GE HealthCare has a legacy spanning over 100 years as part of General Electric. During this time, we pioneered foundational medical technologies, from the development of X-ray and early mammography devices to CT and MR systems and, more recently, molecular imaging innovations like radiopharmaceuticals. This history has positioned us as a leader in Medtech innovation.
However, a few years ago, we recognized that becoming an independent company would allow us to focus more sharply on healthcare. Operating as a standalone public company brings significant advantages: a dedicated infrastructure, a board fully committed to healthcare, and the ability to reinvest earnings directly into our field. Since our spin-off, we have accelerated growth, expanded research and development, and launched significant innovations. These two years have been dynamic and have set the stage for a future where we aim to create a world where healthcare knows no limits.
Much of your new focus seems centered on expanding your Pharmaceutical Diagnostics division…
Certainly. Pharmaceutical Diagnostics is a unique asset within our portfolio, setting us apart as the only Medtech company with such capabilities. This field of molecular imaging is undergoing transformative breakthroughs, particularly with the use of radioisotopes to detect cancers and other structures that conventional imaging cannot reveal.
For example, in the United States, we recently announced Flyrcado, a PET imaging tracer for diagnosing coronary artery disease. This development exemplifies our integration of imaging and pharmaceutical diagnostics expertise. Having in-house capabilities to innovate in this space positions us to lead in precision diagnostics, and we see immense potential in further advancing this field.
Logistics for radioisotopes, given their short half-life, have traditionally been challenging. How has GE Healthcare addressed these issues?
That is correct, the short half-life of radioisotopes presents logistical hurdles, often requiring production close to patients for timely administration. To address this, we provide cyclotrons to enable customers to produce isotopes on-site. For those unable to do so, we offer agile logistics solutions to ensure timely delivery.
We have also expanded our capabilities with tools like PET-CT and PET-MR cameras to visualize cancers and diseases like Alzheimer’s. Additionally, our recent acquisition of MIM Software complements our hardware with advanced planning and contouring digital tools, providing a comprehensive suite of solutions for our customers.
Theranostics is an emerging field combining diagnostics and therapy. How is GE Healthcare contributing to this area?
Theranostics merges molecular imaging for diagnosis with targeted therapies, enabling precision medicine. For example, in cancer care, first, our PET imaging system, Omni Legend, is optimized for diagnostic radioisotopes that visualize certain tumors, so specialists can confirm this cancer is treatable using targeted radionuclide therapies, which are known for precisely attacking the cancer while sparing healthy tissues.
We have invested heavily in this field, introducing SPECT systems like StarGuide, designed to assist physicians in delivering these targeted treatments. SPECT imaging is used after targeted radionuclide therapy to confirm that the therapeutic radioactive drug has been absorbed by tumors and is not affecting healthy organs. While conventional SPECT systems take about an hour to image the entire body, StarGuide completes the process in approximately 10-15 minutes, making it more convenient for very sick patients and practical for busy medical centers.
While the theranostics market is still developing, its potential is immense. With over 20 new drugs expected in the next five to 10 years, we are optimistic about its growth and impact on patient care worldwide.
GE HealthCare has launched approximately 80 AI-enabled device authorizations in the last decade. The company’s goal is to more than double that number by 2028. What are some of the most promising technologies in your pipeline?
AI is revolutionizing medical imaging. Initially, we applied AI to enhance image quality and reduce scan times, helping address the global shortage of medical staff. Physicians now have sharper images enabling precise diagnoses while increasing efficiency.
We have since expanded AI applications beyond devices, to disease states, and also across health systems enabled by digital. It is what we call our D3 strategy. One innovation is a multi-modality cancer application, which integrates data from imaging, lab tests, and more to provide a comprehensive patient view. Generative AI is also playing a role, summarizing this data to assist clinicians in making informed, holistic decisions. The possibilities are transformative, and we are excited about what lies ahead.
Do you worry that working across so many different areas might dilute GE HealthCare’s efforts to provide cutting-edge innovations?
We recognize the breadth of our focus, which is why we do not work in isolation. Collaboration is integral to our strategy. We collaborate with some of the world’s leading institutions, such as Stanford, Mayo Clinic, and the University of Essen, to identify game-changing innovations and focus on areas that can deliver the greatest impact. These collaborations allow us to prioritize and channel our resources effectively.
Additionally, we collaborate with technology leaders like NVIDIA and Amazon Web Services to scale and accelerate our developments. This approach gives us access to the compute and processing power and generative AI tools, enabling us to tackle the most significant challenges in healthcare faster and at scale.
Where would you like to see GE HealthCare’s Imaging segment one year from now?
One year is a relatively short timeframe, but our key focus areas include building on our leadership in AI. We aim to expand its applications in imaging to improve workflow efficiency and link these advances to specific care areas like mammography, cardiology, and early cancer detection. This will help enhance diagnostic precision and patient outcomes.
Another priority is advancing molecular imaging, particularly with the introduction of our new FDA approved radiopharmaceutical, Flyrcado, to diagnose coronary artery disease, which has the potential to generate more than $500 million in revenue for GE HealthCare over the next few years. We are also making strides in accessible technologies, such as handheld ultrasound devices designed for use in remote or underserved regions. These innovations exemplify our commitment to breaking barriers in healthcare delivery.
One of the most promising projects in development is the next generation of CT technology, called photon counting. Our approach uses deep silicon detectors to absorb X-rays with much greater sensitivity, which can produce images with unprecedented detail. The photon counting CT system represents a significant advancement with potential applications ranging from cancer detection to cardiac screening and brain assessments.
Beyond CT, our investment in AI continues to accelerate. By combining data from multiple modalities—imaging, lab results, and genetic information—into integrated applications for clinicians, we’re pushing the boundaries of precision care. Over the next decade, we anticipate more innovations than in the past 100 years, with the potential to detect and treat most cancers at early stages and offer better outcomes for a range of diseases.
