New Technology Gives GE Healthcare (NASDAQ:GEHC) a Boost

The emergence of medical technology company GE Healthcare (NASDAQ:GEHC) brought concerns about its ability to stand alone without the support of the broader GE brand. However, these fears have proven to be largely unfounded as GE Healthcare has introduced new technology that shows promise.

One such advancement is the Prostate Volume Assist (PVA) system, which uses artificial intelligence (AI) to accurately measure the volume of a human prostate. This technology is essential for determining whether a prostate is cancerous or not and can also be beneficial in the treatment of other neurological disorders. The PVA system, which is included with several GE Healthcare ultrasound systems, produces quick and reliable results that make diagnoses easier for physicians.

In addition to the PVA system, GE Healthcare recently announced the distribution of the Ionic Health nCommand Lite system, which has received FDA approval. This system is designed to help alleviate the strain on radiology departments in hospitals that are facing staffing shortages. With nCommand Lite, users can perform patient scanning functions remotely and review images in real-time, providing a valuable resource for healthcare providers.

On Wall Street, analysts have a Moderate Buy consensus rating on GEHC stock, with seven Buys and three Holds assigned in the past three months. Despite a 17.26% increase in its share price over the past year, the average GEHC price target of $92.22 per share suggests a 2.41% upside potential. Overall, GE Healthcare is showing promise with its innovative technology and strategic partnerships in the healthcare industry.

Overall, it’s clear that GE Healthcare has come a long way since its initial emergence and has proven to be more than capable of standing on its own without support from the broader GE brand. Its continued innovation and strategic partnerships bode well for its future success within the healthcare industry.

By Sophia Gonzalez

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