• GE’s healthymagination Fund invests $7.5 million to drive ultrasound disinfection innovation and product development.
• Accelerates GE Healthcare’s commitment to address patient safety and infection control, a $10.3 billion global market growing at 12% CAGR.
GE (NYSE: GE) today announced a $7.5 million investment in Australian-based Nanosonics Limited (ASX: NAN) - a leader in the development of innovative technology for infection control - to further develop and distribute Trophon EPR, an ultrasound transducer disinfecting system. The investment is being made through the GE healthymagination Fund, which makes investments in healthcare technology companies.
“Hospital acquired infections (HAIs) have increased by 36% in the last 20 years and are consuming more healthcare dollars each year,” said Ron Weinberger, Managing Director of Nanosonics. “In the ultrasound market, sonographers see over ten patients a day, resulting in an increased need to disinfect the ultrasound transducer thoroughly between patients. Nanosonics has developed Trophon EPR, an innovative ultrasound disinfecting system, that we feel will significantly lower the risk of HAIs among patients.”
Realizing there was a significant need to address transducer disinfection, GE Healthcare worked with Australian-based Nanosonics in 2006 to support the validation of the Trophon EPR. After a few years of extensive research, development and testing, Trophon received FDA approval in 2011 and was sold to customers in the US, Canada and Europe. Currently, Trophon is installed at more than 800 customer sites globally.
“When patients get scanned, they deserve full assurance that the equipment being used is safe and clean. The Trophon technology achieves that - and revolutionizes infection control processes as we know it,” said Dr Weinberger.
Specifically, the technology results in:
• Improved Turnaround Time: The system takes a total of 7 minutes to disinfect between patients. This is about half the time compared to traditional disinfection techniques, meaning more patients can get scanned in a day.
• Convenience: Trophon can be placed in the same room as the ultrasound machine. Other methods require a separate disinfection room due to the powerful chemicals that are used.
• Environmentally Friendly Solution: The system breaks down residual disinfectants into water and oxygen which is safer for the environment, patient and sonographer.
“Nanosonics has built an attractive business with an extraordinary product,” said Michael Ackland, President and CEO of GE Healthcare Australia & New Zealand. “We believe the continued collaboration with Nanosonics will help serve our healthcare customers better, complementing GE’s suite of ultrasound technologies, software and services. By expanding our sales footprint in Japan as well as in the existing locations such as the US, Canada and Europe, GE will help customers improve their overall quality in ultrasound processes.
“We’re delighted to be investing in a great Australian company and to help bring this unique technology to the rest of the world,” said Mr Ackland.
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About GE Healthcare
GE Healthcare (gehealthcare.com) provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems.
Our “healthymagination” vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality around the world. Headquartered in the United Kingdom, GE Healthcare is a unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employees are committed to serving healthcare professionals and their patients in more than 100 countries.
About GE Capital
GE Capital Australia and New Zealand (gecapital.com.au) is a specialist financial services provider and part of the global GE Capital business, which operates in 55 countries around the world. With 4,300 employees and over $16 billion in assets locally, GE Capital offers unique financial solutions such as fleet and equipment finance, personal loans, retailer solutions and credit cards, corporate finance, inventory finance and insurance services. Follow GE Capital on Twitter @GECapitalAus
Nanosonics Limited (nanosonics.com.au) is developing a portfolio of decontamination products designed to reduce the spread of infection. The Company owns intellectual property relating to a unique disinfection and sterilisation technology which can be suited to a variety of markets.
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Kym Robins, GE Healthcare Australia & New Zealand
M: +61 2 9846 4807 - E: Kym.robins[.]ge.com.
Britta Barrett, GE Healthcare Global Services
M: +1 203 400 1892 - E: britta.barrett[.]ge.com.