GE Healthcare to Purchase Assets of High-Field Extremity MRI Scanners

Giles, UK), the US$17 billion healthcare business of General Electric Co. (Fairfield, CT), has entered into an agreement to purchase certain assets of ONI Medical Systems, Inc. (Wilmington, MA, USA), a privately held company. In line with GE's healthymagination vision, ONI's products will expand GE Healthcare's magnetic resonance imaging (MRI) capabilities, offering healthcare professionals a wider 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 Extreme 1.0T and the MSK Extreme 1.5T, compact designed, high-field, open configuration extremity MRI systems. 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 sitting 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 Extreme 1.0T and MSK Extreme 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, nonclaustrophobic 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 Mr. Davis.

ONI's musculoskeletal MRI systems have a combination of features that include 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 coinventor 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.

The transaction is subject to customary closing conditions and is expected to close during the 4th quarter of 2009.

ONI Medical Systems develops and markets dedicated-purpose musculoskeletal MRI systems that exceed the rigorous requirements of diagnostic radiology. 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.

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