GE Healthcare Launches New Wireless Portable Ultrasound as CEO Takes Growing Market

General Electric on Tuesday announced the launch of its new portable, ultrasonic device, Vscan Air, as the company tries to capture a leading position in the growing market.

It is the company’s latest foray into the growing ultrasound market, based on GE Healthcare’s first-generation device, Vscan, launched in 2010. Since then, the market has grown rapidly, said Kieran Murphy, CEO of GE Healthcare. . an interview with CNBC, so the device manufacturer launched the refurbished Vscan Air, extremely portable, to strengthen its market position. Starting Tuesday, it will be available in the US, Canada and Europe, with plans to launch in several countries and regions pending regulatory approval.

GE Healthcare estimates that the manual ultrasound market will grow to $ 1 billion over the next decade, and the company wants to capture 30 percent of it by 2025 with Vscan Air.

The device is about the size of an iPhone, is completely wireless, and costs less than $ 5,000, although the price varies by region. It connects to a smartphone app to read the ultrasound, and GE says the images can be safely shared with patients. The device can be used by trained healthcare providers to quickly assess blood flow, diagnose gallbladder disease, and even diagnose Covid-19 by a lung exam.

The idea, Murphy explained, is that portable ultrasound devices such as Vscan Air will be used in time-sensitive situations and when console-based ultrasound is not available. The devices, Murphy said, could become ubiquitous in emergency rooms, family doctor’s offices and all sorts of outpatient clinics, such as emergency care centers, to allow for a quick, low-cost diagnosis. It can also be deployed in a home environment and in road and air ambulances, with its authorization from the US Food and Drug Administration.

Murphy also noted that the pandemic to pandemic telehealth and increased use of outpatient clinics could increase the demand for portable tools such as Vscan Air. He said GE will have to do “quite a lot” by expanding market awareness through information, including on social media and various sales channels.

“We have seen a huge increase in the use of telemedicine, teleradiology and remote monitoring in the last year. For people who don’t have access to specialist consultants, the fact that they can have access to a doctor armed with one of them will make a big difference, “Murphy said of Vscan Air.” I think this will happen everywhere. “

GE is not the only one operating in space. Its competitors in the ultrasound market at the point of care include the $ 3.5 billion digital health company Butterfly Network, and colleagues in the conglomerate, Koninklijke Philips, based in the Netherlands. Murphy said GE intends to use its name recognition, ultrasound experience and its installation of medical equipment connected to the Edison Health Care Platform to differentiate itself.

Dr. Yale Tung-Chen, head of the ultrasound division in internal medicine at the Puerta de Hierro University Hospital, Majadahonda in Madrid, is one of the doctors who had early access to Vscan Air as a clinical evaluator.

She currently works at the Isabel Zendal Specialist Emergency Hospital in Covid-19, Spain, and said she swears on handheld ultrasound devices, especially for use in the emergency room, where time is precious and rapid diagnosis can have major consequences.

“How can I perform 30 comprehensive exams in a short amount of time? It’s impossible,” Tung-Chen said of examining patients in a busy emergency room. “I have to take something out of my pocket and take a look that won’t last more than a minute or two and then make the decision.”

Tung-Chen used many portable ultrasound devices, including those made by GE competitors, but he said in an interview that he was impressed by the high-quality image that Vscan Air can capture. The two-sided probe design allows technicians to switch between superficial and deep examinations by simply twisting the device, he said. This would usually require the doctor to change the probes, costing valuable time.

This feature is especially important, he explained, in cardiac examinations, which Tung-Chen used to help diagnose patients with Covid-19, as well as to monitor the progression of the disease to determine if the patient is getting worse. sick. He said the ultrasound device could help doctors find early signs of life-threatening diseases, such as Covid-19, but added that he did not see the device as a complete replacement for traditional diagnostic tools such as stethoscopes.

“Ultrasound makes bad doctors good and good doctors even bigger,” he said.

Murphy said he sees further strong growth in 2021. On GE Investors Day last week, the health unit reported $ 2.6 billion in free cash flow for 2020, up from $ 1.2 billion in 2019 Murphy said this is largely due to the delivery of 50,000 ventilators, which were widely used last year to help critically ill patients with Covid-19.

“We’ve had a successful year. We’ve done an incredible number of winds well,” Murphy said, adding that the company’s role in the pandemic helped boost employee morale.

The company earns most of its money from the sale and maintenance of equipment used for elective procedures, which has been delayed in much of the world as hospitals have focused on treating patients with Covid-19. While patients are looking to return to the hospital for X-rays, MRIs, anesthesia procedures and more, Murphy said all of this will benefit the business.

The health care unit forecasts a free to light cash flow in 2021, based on a slight increase in revenue and an expansion in the profit margin.

“Everyone says well, Covid gave you a fantastic year, but Covid suppressed quite a bit, which is back this year,” he said. “We started at a great start and I am very confident that we will have a good year.”

Correction: On GE Investors Day last week, the health unit reported $ 2.6 billion in free cash flow for 2020, up from $ 1.2 billion in 2019. An earlier version of this article mislabeled free cash flow figure.