GE HealthCare Acquires Intelerad for $2.3B to Build Cloud-First, AI-Driven Imaging Ecosystem

GE HealthCare has announced the acquisition of Intelerad, a leading medical imaging software provider, in a $2.3 billion all-cash transaction. The move marks a significant milestone in GE HealthCare’s digital strategy to expand its AI-enabled imaging solutions and advance its cloud-first approach, particularly within the high-growth outpatient and ambulatory care markets.

The acquisition aligns with GE HealthCare’s stated goal of tripling its cloud-enabled offerings by 2028. Intelerad’s expertise in cloud-based solutions for radiology and cardiology complements GE HealthCare’s established hospital imaging portfolio, allowing the combined company to offer an integrated, AI-enhanced imaging platform across both inpatient and outpatient environments.

According to Roland Rott, President and CEO of Imaging at GE HealthCare, “Intelerad is an outstanding strategic fit and is a pioneer in cloud-based imaging software, with a strong portfolio of world-class solutions across care settings. By combining GE HealthCare’s medical device and AI competence at global scale with Intelerad’s enterprise cloud and imaging expertise, we will be even better positioned to meet the evolving needs of healthcare providers, simplify complex workflows, and drive digital innovation across the industry.”

The transaction is expected to strengthen GE HealthCare’s financial profile and accelerate its shift toward a recurring revenue model. Intelerad’s annual revenues are projected at approximately $270 million, with nearly 90% derived from recurring sources. The company’s SaaS-based structure supports GE HealthCare’s long-term strategy to build scalable, predictable revenue streams.

Additionally, the acquisition enables GE HealthCare to capture a larger share of the outpatient enterprise imaging market, estimated at over $2 billion globally. The company anticipates immediate positive contributions to top-line growth and Adjusted EBIT margins, with a high single-digit return on invested capital expected within five years.

By integrating Intelerad’s cloud PACS, AI orchestration, and image-sharing capabilities, GE HealthCare aims to streamline the “precision care journey” — combining advanced imaging, workflow automation, and data-driven insights to enhance provider efficiency and patient outcomes across care settings.

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