Intelligent Ultrasound's AI technology now standard on GE Healthcare ultrasound machines
() , the ultrasound AI software and simulation company, announced that GE HealthCare's SonoLystlive software is now a standard feature on the latest versions of the GE Voluson Expert Series of ultrasound machines, the Expert 22 and Expert 20. SonoLystlive is powered by Intelligent Ultrasound's ScanNav AI.
SonoLystlive automatically captures images in real time as the clinician scans a mid-trimester patient. Intelligent Ultrasound's ScanNav AI software automatically recognises the anatomy, captures an image and checks it off the list of required views. By minimising the need to manually freeze, annotate and store images, the software significantly reduces keystrokes and exam time for sonographers.
Stuart Gall, CEO of Intelligent Ultrasound, commented: "We are delighted that, by incorporating SonoLystlive as a standard feature onto its Voluson Expert 22 and 20 ultrasound machine GE HealthCare is leading the way in using AI software to improve obstetric workflows for the benefit of clinicians and patients. The Voluson Expert Series is a market-leading ultrasound machine in the global women's healthcare obstetrics market and SonoLystlive is a fantastic example of how AI software can help save scanning time, whilst de-stressing the scanning environment for the sonographer.
We remain excited that our novel 'classroom-to-clinic' approach is making clinical diagnostic ultrasound easier to learn and simpler to use."
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Intelligent Ultrasound's disruptive ScanNav AI software has now been incorporated as a standard feature in GE Healthcare's latest generation of Voluson Expert ultrasound machines. This is a significant step in 's partnership with industry giant GE Healthcare, building on the existing agreement that incorporates ScanNav AI as an option add-on in the SonoLyst software for the Voluson SWIFT.
Today's announcement follows the launch of the software on the Voluson Expert series in September 2023. With ScanNav AI now a standard feature, Intelligent Ultrasound will receive a royalty payment on each relevant ultrasound machine sold by GE Healthcare. The royalty is expected to be a lower rate than the current optional model, but more consistent as a guaranteed payment on each sale.
Intelligent Ultrasound noted it is too early to assess the impact on its 2024 clinical AI revenue forecast of SonoLystlive moving from an option upgrade - with a higher reward, but higher risk of uptake - to a more predictable revenue stream. Broker Cavendish also left forecasts unchanged. The news elicited a positive reaction from markets as investors bet the development will have a materially positive impact on revenues.
As Intelligent Ultrasound and GE Healthcare's relationship continues to develop with new software products, there is significant potential upside going forward. The partnership is one of 's key growth drivers as sales soared 46.9% in FY21 and 33% in FY22. Cavendish predicts 24% growth this year and 41.4% next year, with reaching profitability by end of FY24.
is set to benefit from the rapid growth of the medical imaging AI market, projected to grow at a CAGR of 34.7% between 2022 and 2029.
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