GE HealthCare Doubles Down on Precision Medicine with Strategic Collaboration and Expanded Portfolio

Nov 16, 2023 00:01 CST Updated 00:01

BAMF Health

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GE Healthcare

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Source: Siyu MedTech; Editor:Liu Xinyi

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On November 13, 2023, GE Healthcare (NASDAQ: GEHC) announced a collaboration with BAMF Health to establish a framework for the development of precision medicine.

# Precision Medicine, Imaging First

THeranostics (Theranostics or Theragnostics) is a hybrid term first proposed by John Funkhouser in 2002 to describe any method that combines therapy and diagnostics.

Theranostics is an emerging technology and form of precision medicine that combines imaging techniques with therapeutic drugs to achieve precise targeting and destruction of cancer cells.。In terms of molecular imaging, theranostics refers to simultaneouslyUsing imaging technologies and targeted therapies to detect and treat diseases like cancer, while monitoring patients' treatment outcomes.。

The foundation of precision medicine is precise diagnosis, and nuclear molecular imaging is the core of achieving precise diagnosis.。As early as the split of GE Healthcare from GE GroupPreviously,GE Group announced more than 40 innovations in precision medicine in September 2022, and also declared a focus on integrated diagnosis and treatment to advance the future of healthcare.。

▲GE Healthcare Participates in the CIIE for the Sixth Time with Cutting-Edge Products

Notably, at the 6th China International Import Expo, GE Healthcare showcased its representative heavyweights in multimodal imaging for the first time— the Spectral Digital SIGNA PET/MR and the ONE MI precision diagnosis and treatment solution, driving precision medicine with cutting-edge imaging technology.

# Complementary Strengths, Driving Integrated Diagnosis and Treatment

The collaboration between GE Healthcare and BAMF Health aims to meet the growing demand for integrated diagnostics and therapeutics, leveraging GE Healthcare's advanced technologies and services to enable BAMF Health to offer a full suite of one-stop services.The goal of this collaboration is to drive the penetration of integrated diagnosis and treatment in the U.S. by ensuring flexible market promotion strategies.

GE Healthcare produces a series of tools that support the integration of diagnosis and treatment, such as cyclotrons, PET/CT, PET/MR, and SPECT/CT. Meanwhile, GE Healthcare also possesses advanced chemical synthesis technology, a mature pharmaceutical diagnostics business, cutting-edge cancer treatment methods, and digital solutions, which can cover almost every aspect of patient care. Therefore, it is able to assist BAMF Health in operating integrated diagnosis and treatment projects.

BAMF Health, on the other hand, can provide molecular imaging for various types of cancer, focusing on the integration of diagnosis and treatment. It leverages its expertise and collaborates with health systems across the United States to scale up molecular imaging and integrated diagnosis and treatment, reducing the cost of this new therapy to make it affordable for patients and accessible for clinicians.

Catherine Estrampes, President and CEO of GE Healthcare’s U.S. and Canada division, stated: "GE Healthcare can bring key teams, data, and decision-making to integrated diagnostics and therapeutics, providing patients with precision medicine and personalized care. We are thrilled to collaborate professionally with BAMF Health to advance the adoption and integration of integrated diagnostics and therapeutics."

▲Anthony Chang

Dr. Anthony Chang, founder and CEO of BAMF Health, said:"The targeted integration of diagnosis and treatment can help provide personalized services for patients suffering from difficult cancers, and this treatment method also holds great promise in treating diseases such as Alzheimer's disease."By partnering with GE Healthcare, we are able to excel in this rapidlyDriving innovation in rapidly developing fields.”

# GE Healthcare, Comprehensive Layout of Precision Medicine

Notably, the collaboration with BAMF Health is not the first partnership announced by this medical technology giant concerning the advancement of integrated diagnosis and treatment. In September 2023, GE Healthcare announced a strategic partnership with Mayo Clinic to collaborate on research and product development in precision medicine, artificial intelligence, and integrated diagnosis and treatment.

This collaboration is regarded as an innovative strategic partnership in medical imaging and integrated diagnosis-treatment. Both parties expressed their commitment to jointly advancing magnetic resonance technology by leveraging AI, multi-modal data, and digital health platforms to streamline treatment processes. They also emphasized strengthening research in diagnostic and interventional ultrasound, optimizing the use of diagnostic agents to enhance cancer treatment.

And in China, GE Healthcare has also made strides in precision medicine. In May 2023,GE Healthcare's Precision Medicine Industrialization Base Project Officially Breaks Ground in Chengdu, ChinaThis project is the first precision medical industrial base project that GE Healthcare has newly laid out in western China in recent years. It is the latest achievement in the implementation of its comprehensive localization strategy in China, fully demonstrating GE Healthcare's long-term confidence in China's development and its determination to actively invest.

With the development of Chengdu Precision Medicine Base, it will undoubtedly further significantly advance the precise diagnosis and treatment of major diseases such as cancer and cardiovascular and cerebrovascular diseases in China, bringing better services to Chinese patients and doctors.

# About GE Healthcare

On January 4, 2023, GE Healthcare announced that the previously announced spin-off from GE Group (NYSE: GE) has been completed. GE Healthcare will begin trading on the Nasdaq Stock Exchange as an independent company with the stock code "GEHC," effective at market open. GE Healthcare became the first company in Wisconsin, USA, to remotely ring the Nasdaq opening bell for its IPO.

GE Healthcare has approximately 51,000 employees worldwide, serving over 1 billion patients annually across more than 160 countries. GE Healthcare's business spans four major segments —— Medical Imaging, Ultrasound, PCS Patient Care Solutions, and Pharmaceutical Diagnostics.

On October 31, 2023, GE Healthcare (Nasdaq: GEHC) announced its financial results for the third quarter ended September 30, 2023: reported revenue reached $4.8 billion, a year-over-year increase of 5%, with organic revenue growth of 6% year-over-year; net profit was $375 million, compared to $487 million in the same period last year.

# About BAMF Health

BAMF Health, founded in the United States in 2016, is currently privately held. The company has created the world's first vertically integrated platform for AI-based precision medicine through AI-supported molecular imaging and theranostics. The company’s platform also produces novel tracers for the effective and non-invasive treatment of cancer, Alzheimer’s disease, Parkinson’s disease, heart disease, and depression, reducing the time patients spend in the hospital.

Editor-in-Chief | Zhao Qing Reviewed by | Yi He