GE HealthCare Technologies, Inc (GEHC) has introduced Venue Sprint, a new portable ultrasound system designed to meet the growing demand for point-of-care ultrasound across various healthcare settings. Equipped with powerful Venue software, AI-enabled tools and wireless Vscan Air dual-probes, the Venue Sprint delivers high-quality imaging and real-time insights in critical care, emergency medicine and medical transport environments. The device enhances workflow efficiency by simplifying learning, offering e ...

Financial Data and Key Metrics Changes - In Q2 2024, the company reported revenues of $4.8 billion, reflecting a 1% organic growth year-over-year, compared to 9% growth in Q2 2023 [9][10] - Adjusted EBIT margin increased to 15.3%, up 60 basis points year-over-year, driven by improvements in gross margin [9][10] - Adjusted EPS was $1, representing a 9% increase year-over-year, attributed to adjusted EBIT growth and lower interest expenses [9][10] Business Line Data and Key Metrics Changes - Pharmaceutical Diagnostics (PDx) segment saw a strong organic growth of 14%, driven by volume, pricing, and new product introductions [10][14] - Imaging segment experienced flat organic revenue growth, impacted by market headwinds in China, but EBIT margin improved by 40 basis points year-over-year [12][13] - Ultrasound segment reported a 1% decline in organic revenue, with EBIT margin decreasing by 120 basis points due to lower sales in China and inflation [13] - Patient Care Solutions had a 1% organic revenue growth, with EBIT margin decreasing by 90 basis points year-over-year [13] Market Data and Key Metrics Changes - Excluding China, global revenue growth was 4%, and orders growth was 6% [3][9] - The company anticipates continued sales decline in China for the year, leading to a reduction in full-year organic revenue growth guidance to 1% to 2% [4][16] - The U.S. market showed robust performance with over $800 million in multimodality equipment contracts secured [8][9] Company Strategy and Development Direction - The company is focusing on lean initiatives and continuous improvement to enhance customer value and eliminate waste [6][7] - Strategic investments are being made in AI tools and collaborations, including an acquisition of Intelligent Ultrasound's AI division and a partnership with Amazon Web Services [8][9] - The company is optimistic about the long-term potential of the China market despite current challenges, viewing it as an attractive opportunity [5][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in medium-term goals, emphasizing the importance of core changes in commercial execution and product innovation [34][35] - The company expects a recovery in the China market orders later in the year, despite current headwinds [5][26] - Management highlighted a strong backlog of $19 billion and a healthy pipeline for growth in the U.S. market [22][23] Other Important Information - The company is maintaining its EPS guidance for the year despite revenue reductions, indicating strong execution on cost initiatives [5][16] - Free cash flow was negative $182 million in Q2 due to timing of payments, but is expected to improve in the second half of the year [15][16] Q&A Session Summary Question: Understanding the pace of opening new orders from the stimulus program in China - Management indicated that the rollout of the stimulus program is taking longer than expected, with growth anticipated to begin in late 2024 [25][26] Question: How to maintain margins and EPS despite revenue reduction - Management attributed the ability to maintain margins and EPS to successful cost initiatives and productivity improvements [29][30] Question: Outlook for 2025 and potential catch-up from China - Management expressed confidence in mid-term goals and indicated that growth from China in 2025 could exceed previous expectations [34] Question: Insights on orders and bookings, particularly in the U.S. market - Management noted strong orders growth in the U.S. market, with a robust pipeline and positive customer sentiment regarding capital investments [38][39] Question: Long-term opportunity for contrast media and molecular imaging markets - Management is optimistic about the growth potential for products like Vizamyl and Flurpiridaz, especially with new reimbursement rules [59][61]

GE HealthCare Technologies (GEHC) came out with quarterly earnings of $1 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.04%. A quarter ago, it was expected that this medical technology company would post earnings of $0.90 per share when it actually produced earnings of $0.90, delivering no surprise. Over the last four qua ...

Revenue Performance - Total revenues for Q2 2024 were $4,839 million, approximately flat compared to Q2 2023, with a 1% organic growth [151]. - Sales of services increased by 2% or $28 million, while sales of products decreased by 1% or $6 million [151]. - Imaging segment revenues were $2,596 million, a decrease of 1% or $24 million, impacted by lower volume in China and unfavorable foreign currency effects [152]. - Ultrasound segment revenues were $823 million, down 2% or $16 million, primarily due to lower sales volume in China [152]. - Patient Care Solutions (PCS) segment revenues were $772 million, flat compared to the prior year, with 1% organic growth [152]. - Pharmaceutical Diagnostics (PDx) segment revenues grew by 12% or $71 million, driven by volume growth and new product introductions [152]. - Revenues from the US and Canada (USCAN) increased by 5% or $104 million, with growth across all segments [152]. - Revenues from the China region decreased by 18% or $131 million, affected by delayed stimulus and ongoing anti-corruption campaigns [152]. - Total revenues for the six months ended June 30, 2024, were $9,489 million, flat compared to the prior year [154]. - Total revenues for the three months ended June 30, 2024, were $4,839 million, a slight increase of 1% compared to the same period in 2023 [176]. - Organic revenue for the six months ended June 30, 2024, was $9,565 million, remaining stable compared to $9,524 million in 2023 [176]. Income and Earnings - Operating income for the three months ended June 30, 2024, was $608 million, a 7% increase from $570 million in the same period of 2023 [156]. - Net income attributable to GE HealthCare for the three months ended June 30, 2024, was $428 million, reflecting a 2% increase from $418 million in the prior year [156]. - Adjusted EBIT for the three months ended June 30, 2024, was $742 million, a 4% increase from $711 million in the same period of 2023 [156]. - Adjusted net income for the six months ended June 30, 2024, was $872 million, an 8% increase from $807 million in the prior year [163]. - Adjusted net income for the three months ended June 30, 2024, was $459 million, reflecting a 10% increase from $419 million in 2023 [183]. - Adjusted earnings per share for the three months ended June 30, 2024, was $1.00, up from $0.92 in 2023, representing an increase of 9% [185]. - The net income margin for the three months ended June 30, 2024, improved to 8.9%, up 20 basis points from 8.7% in 2023 [180]. Expenses and Investments - R&D investments increased by $29 million, contributing to a rise in R&D as a percentage of total revenues by 60 basis points [160]. - Total operating expenses increased by $25 million, with SG&A expenses decreasing by $5 million due to cost-saving initiatives [160]. - Cash used for capital expenditures was $209 million for the six months ended June 30, 2024, primarily for manufacturing capacity expansion and new product introductions [199]. Cash Flow and Debt - Free cash flow for the six months ended June 30, 2024, was $92 million, a decrease of 51% from $189 million in 2023, driven by a 25% decline in cash from operating activities [189][198]. - Cash generated from operating activities for the six months ended June 30, 2024, was $300 million, down from $401 million in 2023, with net income of $823 million in 2024 compared to $816 million in 2023 [193][194]. - Cash used for investing activities in the six months ended June 30, 2024, was $537 million, including $259 million for the acquisition of MIM Software Inc. and $209 million for capital expenditures [195][196]. - Total debt as of June 30, 2024, was $9,240 million, a decrease from $9,442 million at the end of 2023, primarily due to a $150 million repayment of the Term Loan Facility [202]. - The company had $2,015 million in cash, cash equivalents, and restricted cash as of June 30, 2024, along with access to $3,500 million in revolving credit facilities [191][204]. - The weighted average interest rate for the company's notes and credit facilities for the six months ended June 30, 2024, was 6.08% [203]. - The company plans to continue relying on capital markets and expects to have access to credit facilities to fund operations, with current credit ratings of Baa2 from Moody's, BBB from S&P, and BBB from Fitch [206][207]. Segment Performance - Imaging Segment EBIT was $526 million, an increase of $57 million due to cost productivity and an increase in price, partially offset by cost inflation [175]. - Ultrasound Segment EBIT was $360 million, a decrease of $38 million due to cost inflation and a decrease in sales volume, particularly in China [175]. - PDx Segment EBIT was $378 million, an increase of $71 million due to growth in sales volume, an increase in price, and cost productivity, partially offset by cost inflation and investments [175]. - Imaging segment revenues were $5,062 million, a decrease of 1% or $54 million compared to the prior year, impacted by unfavorable foreign currency effects [156]. - USCAN revenues increased by 3% or $114 million to $4,336 million, supported by growth in PDx and Imaging revenues [156]. Geopolitical and Market Conditions - The company continues to monitor the impact of geopolitical factors, including the Russia-Ukraine conflict and market conditions in China [140]. - Remaining Performance Obligations (RPO) as of June 30, 2024, decreased by 1% to $14,531 million from $14,655 million as of December 31, 2023, primarily due to fulfillment and cancellations outpacing new contracts [155]. - The company experienced a significant outflow of $820 million from changes in assets and liabilities in the first half of 2024, mainly due to compensation and benefit payments and inventory build [193].

Exhibit 99 GE HealthCare reports second quarter 2024 financial results Chicago, IL – July 31, 2024 – GE HealthCare (Nasdaq: GEHC) today reported financial results for the second quarter ended June 30, 2024. GE HealthCare President and CEO Peter Arduini said, "In the second quarter, we delivered year-over-year sales growth and margin expansion despite headwinds in the China market. We also reported solid orders growth with particular strength in the U.S., as healthcare systems invest in technologies that enh ...

Core Viewpoint - GE HealthCare Technologies Inc. (GEHC) is expected to report second-quarter 2024 results, with a focus on revenue growth driven by strong demand in imaging and pharmaceutical diagnostics, despite challenges in sales volume and macroeconomic conditions [15][8]. Group 1: Revenue Growth and Product Development - Imaging demand remains healthy, particularly in Molecular Imaging, Computed Tomography, and Magnetic Resonance, contributing to top-line growth [2]. - The company completed the acquisition of MIM Software in April, enhancing its product portfolio with new offerings likely to generate additional revenue [2]. - The Pharmaceutical Diagnostics business is anticipated to show strong organic revenue growth due to favorable pricing and recovery in global elective procedures [3]. Group 2: Financial Estimates - The Zacks Consensus Estimate for revenues is projected at $4.89 billion, indicating a year-over-year growth of 1.5% [4]. - The earnings per share estimate is set at 97 cents, reflecting a 5.4% improvement from the previous year [19]. Group 3: Market Performance and Challenges - GEHC's shares have experienced a 25.3% increase year to date, although the company faced lower sales volumes in the second quarter [6][8]. - The Ultrasound business is expected to benefit from the launch of the LOGIQ portfolio and AI software, which may enhance workflow for urologists [9][17]. - Despite strong commercial performance, the company may be impacted by a challenging macroeconomic environment and currency headwinds [18]. Group 4: Segment Performance - The Imaging business is projected to benefit from healthcare providers' investments in capacity, with strong demand for surgical procedures driving imaging needs [25]. - The Patient Care Solutions segment may see organic revenue decline due to unfavorable volume, although improved pricing could provide some offset [27]. - Recent product launches, including the SIGNA MAGNUS MR scanner and Voluson Signature ultrasound systems, are expected to support growth in imaging and patient care solutions [26].

Considering the aging baby boomer population, spending trends can only rise from current levels. In particular, Medicare spending will experience a surge as more boomers enroll. Moreover, spending on physician and clinical services, pharmaceuticals and medical devices keeps rising. This medical device maker has a revolutionary product for the heart health diagnostic market. iRhythm Technologies (NASDAQ:IRTC) offers a cardiac monitoring solution, Zio XT, for heart rhythm monitoring, enabling the detection of ...

GE HealthCare Technologies (GEHC) recently announced that it has entered into an agreement to acquire Intelligent Ultrasound Group PLC's (Intelligent Ultrasound) clinical artificial intelligence (AI) software business for a total consideration of approximately $51 million. With integrated AI-driven picture analysis tools, Intelligent Ultrasound is a leader in making ultrasound more intelligent and effective. With the acquisition of the business, GE HealthCare intends to integrate the technology solutions th ...

As part of HDR brachytherapy, radioactive sources are implanted by needles into the prostate gland to treat prostate cancer. Clinicians typically design these operations using ultrasound or computed tomography (CT) imaging. Critical structural toxicity can be decreased by using MRI in the planning of brachytherapy treatments. MIM Symphony HDR Prostate stands out in the market by correcting MRI orientation and offering MRI guidance during HDR prostate procedures. In April 2024, GE Healthcare announced the cl ...

GE Healthcare Technologies, Inc. (GEHC) , in collaboration with the University of Cincinnati (UC), UC Health, and Cincinnati Children's, has announced a cutting-edge initiative to accelerate MRI innovation. This collaboration will provide a well-established MRI Research and Development (R&D) center of excellence on UC's medical campus, enabling direct interaction between clinical investigators and GE HealthCare scientists. The initiative is supported by an R&D grant from JobsOhio, aimed at boosting engineer ...