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Chalfont St Giles, United Kingdom, 2014/01/08 - GE Healthcare, a unit of GE, announced that it has acquired Finnamore, one of the leading dedicated health and social care consultancies in the UK. Financial terms of the deal were not disclosed [NYSE: GE]. NYSE: GE
The acquisition will see GE Healthcare’s UK consultancy arm, formerly Performance Solutions UK, become GE Healthcare Finnamore, expanding its employee base to 70, many of whom are former clinicians, engineers and management consultants. The new firm will be led by John Deverill, formerly Managing Director of Finnamore.
GE Healthcare Finnamore will be focused on partnering with NHS and other UK health and social care providers to help them improve operational efficiency, clinical outcomes and patient experience. The company will offer strategic consulting capabilities across integrated care, performance transformation, organizational development, finance and change management.
Finnamore brings award winning expertise and relationships built over 20 years of operating in the UK market, to complement GE Healthcare’s existing consultancy expertise and UK client base.
John Deverill, Managing Principal, GE Healthcare Finnamore said: “This brings Finnamore together with one of the world’s leading healthcare companies, both with a shared vision to improve health and well-being and to support the development of patient-focused, integrated care. We are creating an organization that can grow and broaden its capabilities to help the NHS and other health and social care providers to improve their financial, operational and clinical performance on a sustainable basis using consultancy, technology, data analytics, and capital.”
The acquisition is part of GE Healthcare’s strategy to help healthcare providers navigate some of their most complex challenges in a climate of increased budgetary pressures as chronic disease incidence increases amongst an ageing population.
Karl Blight, GE Healthcare’s General Manager in UK, said: “GE Healthcare is investing in advisory capabilities as part of the company’s objective to become a true strategic partner to our customers. GE Healthcare Finnamore’s consultants bring a real depth of expertise to help our UK customers address many of the efficiency challenges they face day to day.”
Andy Ward, former head of Performance Solutions UK, who will now lead GE Healthcare’s consultancy work across Northern Europe while continuing to advise the UK team during the integration period, explained: “NHS England recently cited a potential £30 billion funding gap by 2020-21 if services continue to be delivered in the same way. We are well positioned to help combat that, drawing from GE’s heritage of performance improvement and operational management, and Finnamore’s experience of quality delivery in the UK. This acquisition increases our scale and expertise to help our customers optimize capacity and ensure that patients are cared for and treated as efficiently and effectively as possible.”
GE Healthcare Finnamore will be based in London, close to GE Healthcare’s global HQ in Amersham. GE Healthcare has UK facilities in Amersham, Cardiff, Hatfield and Stevenage.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.