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GE Healthcare to Unveil AI-Driven Cardiac Diagnostics at ESC 2024
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GE Healthcare Technologies Inc. (GEHC - Free Report) has announced the receipt of the CE mark for its Vscan Air SL wireless handheld ultrasound system with Caption AI. The company also received the CE mark for the use of ECG-less cardiac computed tomography (CT) scanning on its Revolution Apex platform.
The Vscan Air SL with Caption AI facilitates rapid cardiac assessments at the point of care, enabling even non-experts to capture high-quality cardiac images. It provides real-time visual guidance and automated calculations of the left ventricular ejection fraction. Meanwhile, the FDA-cleared ECG-less Cardiac CT solution allows clinicians to acquire cardiac pictures without the need for an ECG signal, making cardiac diagnostics faster and more accessible.
The cutting-edge technologies are set to be showcased at the European Society of Cardiology (ESC) Congress in London from Aug. 30 to Sept. 2, 2024.
GEHC’s New Technologies to Improve Cardiac Care
GE HealthCare's new technologies deliver significant efficiency improvements in cardiac CT imaging. The advancements result in a 56% reduction in positioning time, a 66% decrease in total exam clicks and a 21% reduction in total exam time, leading to faster and more efficient acquisition of high-quality CT images.
This announcement marks a significant leap in cardiac care technology, addressing the urgent need for early diagnosis and treatment of cardiovascular diseases, which are the leading cause of death globally. These innovations will empower healthcare providers to deliver timely, accurate diagnoses, potentially reducing the global burden of cardiovascular diseases and improving patient outcomes. This innovation is complemented by Effortless Workflow, an AI-based automation tool that reduces scan times and improves imaging efficiency.
At the ESC Congress 2024, GE HealthCare will also showcase its Allia IGS 5 Pulse platform and the INTERACT Touch with AVVIGO+ Multi-Modality Guidance System from Boston Scientific.
CE Mark to Aid GEHC’s Industry Prospects
Per a report in Grand View Research, the global artificial intelligence in cardiology market size was worth $1.1 billion in 2023. It is anticipated to reach $11.5 billion by 2030, witnessing a CAGR of 34.1%.
The robust growth will be mainly driven by the high burden of cardiovascular diseases worldwide, the growing interest of cardiac physicians to improve accuracy in diagnosing heart diseases and technological advancement in cardiac imagining.
Recent Development at GE Healthcare
In June, GE HealthCare announced the first U.S. installation of its latest Allia Image Guided System (IGS) Pulse at Heart Hospital of New Mexico at Lovelace Medical Center (HHNM). The system, designed to enhance image quality and workflow, will be used in HHNM's cardiac electrophysiology lab for procedures including cardiac ablations, catheterizations, and transcatheter aortic valve replacements.
Price Performance
Shares of GE HealthCare have risen 9.3% so far this year against the industry’s 9.3% fall. The S&P 500 has witnessed an 18.2% rise in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, GE HealthCare carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Universal Health Services (UHS - Free Report) , Quest Diagnostics (DGX - Free Report) and ABM Industries (ABM - Free Report) . While Universal Health Services sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry's 34.8% growth so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics’ shares have gained 3.7% so far this year compared with the industry’s 10.2% growth.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.
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GE Healthcare to Unveil AI-Driven Cardiac Diagnostics at ESC 2024
GE Healthcare Technologies Inc. (GEHC - Free Report) has announced the receipt of the CE mark for its Vscan Air SL wireless handheld ultrasound system with Caption AI. The company also received the CE mark for the use of ECG-less cardiac computed tomography (CT) scanning on its Revolution Apex platform.
The Vscan Air SL with Caption AI facilitates rapid cardiac assessments at the point of care, enabling even non-experts to capture high-quality cardiac images. It provides real-time visual guidance and automated calculations of the left ventricular ejection fraction. Meanwhile, the FDA-cleared ECG-less Cardiac CT solution allows clinicians to acquire cardiac pictures without the need for an ECG signal, making cardiac diagnostics faster and more accessible.
The cutting-edge technologies are set to be showcased at the European Society of Cardiology (ESC) Congress in London from Aug. 30 to Sept. 2, 2024.
GEHC’s New Technologies to Improve Cardiac Care
GE HealthCare's new technologies deliver significant efficiency improvements in cardiac CT imaging. The advancements result in a 56% reduction in positioning time, a 66% decrease in total exam clicks and a 21% reduction in total exam time, leading to faster and more efficient acquisition of high-quality CT images.
This announcement marks a significant leap in cardiac care technology, addressing the urgent need for early diagnosis and treatment of cardiovascular diseases, which are the leading cause of death globally. These innovations will empower healthcare providers to deliver timely, accurate diagnoses, potentially reducing the global burden of cardiovascular diseases and improving patient outcomes. This innovation is complemented by Effortless Workflow, an AI-based automation tool that reduces scan times and improves imaging efficiency.
At the ESC Congress 2024, GE HealthCare will also showcase its Allia IGS 5 Pulse platform and the INTERACT Touch with AVVIGO+ Multi-Modality Guidance System from Boston Scientific.
CE Mark to Aid GEHC’s Industry Prospects
Per a report in Grand View Research, the global artificial intelligence in cardiology market size was worth $1.1 billion in 2023. It is anticipated to reach $11.5 billion by 2030, witnessing a CAGR of 34.1%.
The robust growth will be mainly driven by the high burden of cardiovascular diseases worldwide, the growing interest of cardiac physicians to improve accuracy in diagnosing heart diseases and technological advancement in cardiac imagining.
Recent Development at GE Healthcare
In June, GE HealthCare announced the first U.S. installation of its latest Allia Image Guided System (IGS) Pulse at Heart Hospital of New Mexico at Lovelace Medical Center (HHNM). The system, designed to enhance image quality and workflow, will be used in HHNM's cardiac electrophysiology lab for procedures including cardiac ablations, catheterizations, and transcatheter aortic valve replacements.
Price Performance
Shares of GE HealthCare have risen 9.3% so far this year against the industry’s 9.3% fall. The S&P 500 has witnessed an 18.2% rise in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, GE HealthCare carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Universal Health Services (UHS - Free Report) , Quest Diagnostics (DGX - Free Report) and ABM Industries (ABM - Free Report) . While Universal Health Services sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry's 34.8% growth so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics’ shares have gained 3.7% so far this year compared with the industry’s 10.2% growth.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.