GE Healthcare acquires Intelerad to expand outpatient imaging services

GE Healthcare has announced the $2.3 billion (€2.0 billion) acquisition of Intelerad, a Montreal-based provider of cloud-based medical imaging software, as it seeks to expand beyond hospital equipment into outpatient care markets globally.

The deal grants GE access to Intelerad’s suite of enterprise imaging solutions, which are widely used by outpatient clinics and operate through a software-as-a-service model. This provides GE Healthcare with an immediate boost in recurring revenue streams, aligning with the company’s broader digital and AI strategy.

Outpatient enterprise imaging represents a high-growth opportunity exceeding $2 billion worldwide, according to GE, and the integration with Intelerad is expected to accelerate adoption of GE’s internally developed AI algorithms for imaging applications. Analysts at BTIG and J.P. Morgan describe the acquisition as a strong complement to GE Healthcare’s existing capabilities, offering immediate revenue growth potential and a high single-digit return on invested capital by the fifth year.

Intelerad, majority-owned by Hg Capital and TA Associates, reported low double-digit annual revenue growth and is projected to generate around $270 million (€235 million) in revenue in the first full year following the acquisition. Both existing investors will fully exit as part of the transaction.

The acquisition, pending regulatory approval, is expected to close in the first half of 2026. For GE Healthcare, this move diversifies its product mix into outpatient services and software solutions, supporting long-term recurring revenue and strengthening its footprint in cloud-based imaging platforms.

The deal underlines a broader trend in private healthcare where technology integration and outpatient care solutions are becoming key drivers of growth, complementing traditional hospital-based medical devices.

Discover the full scope of GE Healthcare’s expansion and the strategic implications for outpatient care in the complete story.