MIM Software Announces Acquisition Agreement with GE HealthCare
MIM Software Inc. has entered into an agreement to be acquired by GE HealthCare (Nasdaq: GEHC)
Cleveland, OH -- MIM Software, a leading imaging technology innovator, provides artificial intelligence (AI), imaging, automation, accessibility, and standardization solutions for Radiation Oncology, Molecular Radiotherapy, Nuclear Medicine, Diagnostic Imaging, Interventional Radiology, and Urology. These solutions are deployed at thousands of imaging centers, hospitals, specialty clinics, and research organizations worldwide.
GE HealthCare, a leader in global medical technology, pharmaceutical diagnostics, and digital innovations, is expected to take the MIM Software mission to enhance patient care further. GE HealthCare expects to leverage MIM Software’s imaging analytics and digital workflow capabilities across various care areas to accelerate innovation and differentiate its solutions for the benefit of patients and healthcare systems around the world.
“We are excited by the prospect of joining GE HealthCare and thrilled to share this exciting news,” says Andrew Nelson, CEO of MIM Software. “Over the past two decades, we have worked to develop innovative, vendor-agnostic products and deliver quality services to earn the trust of our customers—this will not change. As part of GE HealthCare, we will develop new and increasingly integrated digital solutions to meet our customers’ most complex and pressing needs, today and into tomorrow.” He adds, “Together, we will build upon our shared legacies of enhancing patient care.”
MIM Software and GE HealthCare share a vision to increase hospital efficiency, improve clinical effectiveness, promote treatment precision, personalize therapy, and improve patient outcomes.
Peter Arduini, President & CEO of GE HealthCare adds, “We are committed to providing comprehensive, connected devices and digital solutions that enable providers to improve patient care across multiple specialties. Through our efforts to bring these two complementary organizations and innovative product portfolios together, we will reinforce our GE HealthCare commitment to deliver precision care and expect to strengthen our position as a leading provider of integrated imaging systems, analytics, and advanced digital workflows across several growing care areas and pathways—including Theranostics, Radiation Oncology, Urology, Neurology, and Cardiology. Now and in the future, we are working to transform patient care.”
With the emergence of novel therapies, healthcare providers increasingly rely on advanced imaging, workflow, and digital solutions to help enable faster, more effective treatment plans. The intended acquisition aims to offer solutions for these opportunities and focus on delivering precision care across disease states and imaging practices, including:
Theranostics in Oncology for the treatment of advanced prostate, neuroendocrine, thyroid, and other cancers
Streamlined workflow solutions in radiation oncology to help simplify complex cancer treatment plans
Beta amyloid Neurology imaging for Alzheimer’s diagnosis and patient monitoring
Myocardial perfusion to diagnose coronary artery disease
The transaction’s consummation is subject to customary closing conditions, including regulatory approvals. Financial details of the transaction have not been publicly disclosed. GE HealthCare intends to fund this transaction with cash on hand.
Lightning Partners is serving as the exclusive financial advisor to MIM Software on the pending transaction.
About MIM Software Inc.
MIM Software Inc. is headquartered in Cleveland, OH, with international offices in Beijing, Chengdu, and Brussels.
MIM Software is committed to enhancing patient care by providing customer-centered and innovative imaging solutions in Radiology, Nuclear Medicine, Radiation Oncology, Molecular Radiotherapy, Neuroimaging, and Cardiac Imaging.
MIM Software sells its products globally to imaging centers, hospitals, specialty clinics, research organizations, and pharmaceutical companies. The company's products are used in over 3,500 centers worldwide.
About GE HealthCare Technologies Inc.
GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 100 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are an $18.3 billion business with 50,000 employees working to create a world where healthcare has no limits.
About Lightning Partners
Lightning Partners provides objective, high-impact strategic advice on M&A and capital raising to select growth-oriented technology companies. Our years of operating, investing, and transaction experience, combined with our industry knowledge, unrivaled tenacity, and hands-on, highly custom approach, consistently delivers top tier results for our clients. For more information, visit www.lightningpartners.com.