HomeMost PopularInvestingThe Revolution of Precision Care: GE HealthCare's Breakthrough in Ultrasound Technology

The Revolution of Precision Care: GE HealthCare’s Breakthrough in Ultrasound Technology

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GE HealthCare Technologies Inc. has unveiled a monumental leap in its ultrasound domain with the introduction of the cutting-edge LOGIQ ultrasound portfolio. Central to this is the game-changing LOGIQ Totus, a testament to the brandโ€™s relentless pursuit of advancing precision care.

The trio comprising the LOGIQ E10 Series, LOGIQ Fortis, and LOGIQ Totus are presently accessible in pivotal markets globally. GE HealthCare was all set to showcase the state-of-the-art LOGIQ portfolio at the European Congress of Radiology, a conference held between Feb 28 and Mar 3, 2024, in Vienna.

The recent launch is poised to reinforce GE HealthCareโ€™s expertise in propelling artificial intelligence (AI) tools and propelling its Ultrasound business to new heights.

LOGIQ Unveiled

The upgraded LOGIQ portfolio is brimming with innovative features and advanced AI tools tailored to meet the evolving demands of healthcare providers. Designed for effortless imaging, seamless workflow, and equipped with Verisound digital and AI solutions, the portfolio includes reporting, fleet management, AI, and collaborative tools.

A standout feature is PIUR IMAGINGโ€™s โ€˜PIUR tUS inside,โ€™ an integration with LOGIQ AppAPI partners. This groundbreaking solution equips clinicians with a tool to pinpoint accurate diagnoses for thyroid medical conditions. Presently, it is available in European markets compliant with CE marking, with additional regulatory approvals in the pipeline.

The Impact of the Launch

GE HealthCareโ€™s projections highlight a global scarcity of radiologists, with Europe facing an approximate 13 radiologists per 100,000 residents. Meanwhile, in the United States, specialty shortages, including in radiology, are estimated to range from 10,300 to 35,600 physicians by 2034. In light of these gaps, management anticipates mounting challenges for clinicians due to heightened demand, potentially leading to increased burnout rates.

The enhanced LOGIQ portfolio aims to empower GE HealthCare to deliver precision care through products and solutions that assist clinicians in optimizing care with utmost ease and efficiency. The comprehensive suite of advanced solutions within the LOGIQ line is anticipated to enhance clinical confidence with its features and AI tools, ensuring a new era of patient-centric care spanning diverse patient profiles and varied clinical settings. Moreover, it aims to address the most pressing challenges and burdens faced by clinicians.

Market Outlook

According to a report by MarketsandMarkets, the global ultrasound market achieved a valuation of $8.5 billion in 2023 and is expected to reach $11.6 billion by 2028, growing at a CAGR of 6.3%. Factors such as the surging patient population, escalating prevalence of chronic illnesses, and the increasing emphasis on non-invasive procedures are likely to propel market expansion.

Given the promising market prospects, the latest launch is anticipated to provide a substantial impetus to GE HealthCareโ€™s global operations.

Recent Milestones

In the past month, GE HealthCare disclosed its fourth-quarter 2023 results, showcasing a remarkable upsurge in revenues on both reported and organic bases.

Additionally, in January, GE HealthCare introduced its latest innovation in electrophysiology (EP), the Prucka 3 with CardioLab EP Recording system, to facilitate clinicians in diagnosing and treating cardiac arrhythmias.

Stock Performance

Over the last year, shares of GE HealthCare have surged by 20.9%, outperforming the industryโ€™s 8.2% decline. During the same period, the S&P 500 recorded a growth of 24.8%.

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Zacks Rank & Top Picks

Presently, GE HealthCare holds a Zacks Rank #3 (Hold).

Among the standout stocks in the broader medical arena are DaVita Inc. DVA, Cardinal Health, Inc. CAH, and Cencora, Inc. COR.

DaVita, ranked #1 (Strong Buy) on Zacks, boasts an estimated long-term growth rate of 12.1%. DVA has consistently surpassed earnings estimates in the past four quarters, with an average surprise of 35.6%. You can access the complete list of todayโ€™s Zacks #1 Rank stocks here.

DaVitaโ€™s shares have soared by 58.3% in comparison to the industryโ€™s 18.9% surge over the past year.

Cardinal Health, holding a current Zacks Rank of 1, forecasts an estimated long-term growth rate of 14.2%. CAH has consistently outperformed earnings estimates in the last four quarters, with an average of 15.6%.

Cardinal Healthโ€™s stock has seen a rise of 51.9% vis-a-vis the industryโ€™s 3.2% uptick over the past year.

As for Cencora, currently holding a Zacks Rank of 2 (Buy), it anticipates an estimated long-term growth rate of 9.8%. COR has consistently exceeded earnings estimates in the previous four quarters, with an average surprise of 6.7%.

Cencoraโ€™s shares have ascended by 51.5% compared to the industryโ€™s 3.6% growth in the past year.

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DaVita Inc. (DVA) : Consult Free Stock Analysis Report

Cardinal Health, Inc. (CAH) : Explore Free Stock Analysis Report

Cencora, Inc. (COR) : Access Free Stock Analysis Report

GE HealthCare Technologies Inc. (GEHC) : Find Free Stock Analysis Report

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Nasdaq, Inc.

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