Cavendish is pleased to announce it has advised Intelligent Ultrasound Group plc on the sale of its Clinical AI business to GE HealthCare for £40.5 million. Completion of the transaction remains subject to Intelligent Ultrasound Group plc shareholder approval and CMA and NS&I approvals.    

Intelligent Ultrasound is a leading UK ultrasound AI software and simulation company offering a suite of integrated AI-driven image analysis tools (Clinical AI) and a range of products making ultrasound simpler to use and easier to learn (Simulation). The acquisition of the Clinical AI business by US-based GE HealthCare adds innovative, real time image recognition technology and expertise to GE Healthcare’s portfolio of AI-enabled devices, accelerating pace of development of next-generation AI tools.

This cross-border transaction bolsters GE HealthCare’s Ultrasound systems, allowing full integration of AI solutions to enable clinicians improve workflow, reduce repetitive tasks and simplify exams

This marks Cavendish’s seventh major transaction in 2024 and is a testament to the firm’s growing reputation within the AI, healthcare and technology space and follows on from the sale of MBI Healthcare Technologies, another AI technology business, to DNV in 2023.

Michael Jewell, Partner at Cavendish commented: “We are thrilled to have played an important role in this transaction. Innovative AI technology has the potential to make a profound difference to medical imaging, and this acquisition by GE HealthCare is another example of the continued interest in companies at the forefront of development and adoption of this technology. Cavendish continues to advise on high-value, strategic transactions within the healthcare and technology sectors, bridging the gap between UK innovation and US market leadership.”

Giles Balleny, Director of Corporate Finance at Cavendish added: “This deal reinforces Cavendish’s position as a leading advisor in the healthcare technology sector, demonstrating our ability to deliver ground breaking transactions that shape the future of healthcare. It is also reflective of our integrated offering, having supported Intelligent Ultrasound Group plc on its journey for the past decade, from listing over ten years ago and then helping raise development capital to support with the build out of the Clinical AI business.”