* ONI provides high-performance low-cost, dedicated extremity Magnetic Resonance
Imaging (MRI) systems; can potentially help reduce patient backlog
* ONI`s high-field scanners designed specifically for imaging of the extremities
- exclusively configured to enclose only the joint being imaged
* Claustrophobic patients can sit comfortably for their MRI scan, with image
quality comparable to whole-body scanners
* Aligned with GE`s healthymagination vision around driving improvements in
quality, access and cost; will enable more cost-effective imaging procedures in
a variety of patient care settings
NEW YORK--(Business Wire)--
GE Healthcare, the US$ 17 billion healthcare business of General Electric
Company (NYSE:GE) announced it has entered into an agreement to purchase certain
assets of ONI Medical Systems, Inc., a privately held company headquartered in
Wilmington, Massachusetts, USA. In line with GE`s healthymagination vision,
ONI`s innovative products will expand GE Healthcare`s Magnetic Resonance Imaging
(MRI) capabilities, offering healthcare professionals a broader range of MRI
products to enable more cost-effective imaging procedures in a variety of
patient care settings. Financial terms were not disclosed.
ONI Medical Systems is a provider of high performance, low-cost, dedicated
purpose MRI systems. This includes the MSK ExtremeTM 1.0T and the MSK ExtremeTM
1.5T, the world`s only compact designed, high-field, truly open configuration
extremity MRI systems available in the medical marketplace. ONI`s scanners are
designed specifically for imaging of the extremities - only the joint being
imaged is inside of the scanner. ONI`s products also have a small footprint for
convenient siting in limited spaces and premium image quality, allowing
clinicians` the same diagnostic confidence for extremity imaging at a lower cost
when compared to a whole body MRI unit.
"One of the cornerstones of GE`s healthymagination vision is to develop and
invest in technologies that increase quality, improve access and decrease costs.
In line with this vision, the addition of ONI`s products enhances our Magnetic
Resonance business. It gives us an opportunity to explore technologies that will
increase patient access for claustrophobic patients, products with a smaller
footprint and premium image quality, and specialty systems that provide
advanced, cost-effective MR patient imaging," said Jim Davis, vice president and
general manager of GE Healthcare`s global MR business.
Both MSK ExtremeTM 1.0T and MSK ExtremeTM 1.5T scanners are applicable to
healthcare providers in hospitals, imaging centers and orthopedic/sports
medicine practices where there is a need for an anatomy-specific MRI system that
provides a quiet, comfortable, non-claustrophobic experience for patients. The
current installed base of these two products is more than 175 units worldwide,
including some of the top academic hospitals in the world.
"Through this transaction, GE Healthcare is acquiring an outstanding R&D team of
engineers and scientists led by Dr. Peter Roemer, an International Society for
Magnetic Resonance in Medicine`s 2009 Gold Medal Award winner. We believe by
combining the expertise and knowledge of these two businesses, we will create
significant added value for our customers and patients everywhere," added Davis.
ONI`s musculoskeletal MRI systems have a combination of features - high image
quality, fast scan times, robust pulse sequences, and a small footprint. Even
patients with extreme cases of claustrophobia are able to sit comfortably for
their MRI scan, with no compromises in image quality compared to whole-body
scanners. ONI MRI systems can be placed alongside other whole body MRI units in
hospitals and imaging centers to reduce patient backlogs, or as the main system
in orthopedic/ sports medicine offices that need fast, high quality, patient
friendly MRI.
"As one of ONI`s original founders and a co-inventor of the MSK Extreme
scanners, I am very excited to join the GE team in offering our products to
customers worldwide. Our product line is highly synergistic with GE`s whole-body
MR business. Our companies share a vision of providing innovative solutions for
cost-effective, high-quality MR imaging. By joining GE Healthcare, we can
combine our comprehensive product offerings and expand our global reach," said
Peter Roemer, Chief Technology Officer at ONI.
"We commend ONI`s vision and successful execution of building a specialized MRI
instrument platform," commented Zubeen Shroff, Chairman of ONI Medical. "On
behalf of the Galen Partners led investor syndicate that included Ivy Capital
Partners and Ziegler Meditech Equity Partners, we are proud of ONI`s
accomplishments and are pleased these innovative devices will be part of GE`s
MRI offering."
The transaction is subject to customary closing conditions and is expected to
close during the 4th quarter of 2009.
About ONI Medical Systems, Inc.
ONI Medical Systems, Inc. develops and markets dedicated-purpose musculoskeletal
MRI systems that exceed the rigorous requirements of diagnostic radiology. With
a clear focus on both image quality and clinical utility, ONI`s product design
addresses the strict needs of facilities with limited space and budgets,
clinicians seeking superior diagnostic MR technologies, and patients who require
a comfortable diagnostic testing experience. For more information, please visit
www.onimri.com.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services that
are shaping a new age of patient care. Our broad expertise in medical imaging
and information technologies, medical diagnostics, patient monitoring systems,
drug discovery, biopharmaceutical manufacturing technologies, performance
improvement and performance solutions services help our customers to deliver
better care to more people around the world at a lower cost. In addition, we
partner with healthcare leaders, striving to leverage the global policy change
necessary to implement a successful shift to sustainable healthcare systems.
Our "healthymagination" vision for the future invites the world to join us on
our journey as we continuously develop innovations focused on reducing costs,
increasing access and improving quality and efficiency around the world.
Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of
General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than
46,000 people committed to serving healthcare professionals and their patients
in more than 100 countries. For more information about GE Healthcare, visit our
website at www.gehealthcare.com.
Media:
GE Healthcare
America:
Arvind Gopalratnam
Cell: +1-262-501-0777
Arvind.Gopalratnam@ge.com
or
International:
GE Healthcare, Europe, Middle East & Africa
Sebastien Duchamp
Cell: +33-731-95964
Sebastien.Duchamp@ge.com
or
ONI Medical Systems
Cathleen Alaimo
Tel#: 781-262-5545
Cathleen@onicorp.com
Copyright Business Wire 2009
