GE to acquire BK Medical, leader in surgical navigation
September 29, 2021
BOSTON – GE Healthcare 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. The company is headquartered in Boston and Copenhagen with more than 650 employees.
GE Healthcare president and CEO Kieran Murphy (pictured) 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.”
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. It also 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.
The parties expect the transaction to close in 2022, subject to review by the relevant regulatory authorities.
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About GE Healthcare
GE Healthcare is the $17 billion* healthcare business of GE (NYSE: GE). As a leading global medical technology, pharmaceutical diagnostics and digital solutions innovator, GE Healthcare enables clinicians to make faster, more informed decisions through intelligent devices, data analytics, applications and services, supported by its Edison intelligence platform. With over 100 years of healthcare industry experience and around 47,000 employees globally, the company operates at the center of an ecosystem working toward precision health, digitizing healthcare, helping drive productivity and improve outcomes for patients, providers, health systems and researchers around the world. Follow us on Facebook, LinkedIn, Twitter, and Insights for the latest news, or visit our website www.gehealthcare.com for more information.
About BK Medical
BK Medical is a global intraoperative imaging and surgical navigation company with headquarters in Boston and Copenhagen and more than 650 employees worldwide. Through the advanced ultrasound technology and sophisticated software algorithms of its active imaging platform, BK Medical enables surgeons to make real-time, data-based decisions during surgical procedures, resulting in better clinical outcomes and reduced costs for patients, physicians, and the healthcare system. With 40 years of expertise in advanced ultrasound technology, the company has a global installed base of more than 14,000 ultrasound platforms. BK Medical technology is highly proprietary and protected with more than 136 patent families. For more information, please visit www.bkmedical.com.
Altaris is an investment firm focused exclusively on the healthcare industry. Altaris seeks to invest in companies that deliver value to the healthcare system and improve patient outcomes by providing innovative products and services. Since inception in 2003, Altaris has invested in more than 40 companies across its five main investment funds. Altaris has $5.9 billion of equity capital under active management and is headquartered in New York, NY. For more information, please visit www.altariscap.com.