A hand ultrasound (Vscan Air) to go beyond highly specialized branches of medicine such as obstetrics and cardiology to primary care physicians.
Source: GE
General Electric on Tuesday announced the launch of its new wireless handheld ultrasound device, Vscan Air, as the company wants to achieve a leading position in the growing market.
It is the company’s latest foray into the growing point-of-care ultrasound market, building on GE Healthcare’s first-generation device, the Vscan, which was launched in 2010. Since then, the market has experienced rapid growth, said Kieran Murphy, CEO of GE Healthcare. an interview with CNBC, so the device maker launched the revamped and highly portable Vscan Air to bolster its market position. Starting Tuesday, it will be available in the United States, Canada and Europe with plans to launch in more countries and regions pending regulatory approval.
GE Healthcare estimates that the portable ultrasound market will grow to $ 1 billion over the next decade and the company wants to capture 30% in 2025 with Vscan Air.
The device is the size of an iPhone, is completely wireless and costs less than $ 5,000, although the price varies by region. It connects to a smartphone app to read the ultrasound, and GE says the images can be safely shared with patients. The device can be used by trained healthcare providers to quickly assess blood flow, diagnose gallbladder disease and even diagnose Covid-19 using a lung exam.
Outpatient uses, ER
The idea, Murphy explained, is that portable ultrasound devices like the Vscan Air will be used in time-sensitive situations and when console-based ultrasound is not available. The devices, Murphy said, could become ubiquitous in emergency rooms, family medical offices, and all kinds of outpatient clinics, such as urgent care centers, to allow for a quick, low-cost diagnosis. It can also be deployed in a home environment and in air and road ambulances, as authorized by the U.S. Food and Drug Administration.
Murphy also noted that the pivot toward telehealth with the pandemic and increased use of external consultations could increase demand for portable tools like the Vscan Air. He said GE will have to do “quite a bit” to expand market awareness through outreach, including social media and various sales channels.
“We have seen huge growth over the last year in the use of telemedicine, teleradiology and remote control. For people who do not have access to specialist consultants, the fact that they may have access to a doctor who is armed with one of these it will make a big difference, ”Murphy said of Vscan Air. “I think this will show up everywhere.”
GE is not the only one operating in space. Its competitors in the point-of-care ultrasound market include the $ 3.5 billion digital healthcare firm Butterfly Network and its conglomerate, Konipslijke Philips, based in the Netherlands. Murphy said GE plans to use its name recognition, its history in ultrasound machinery and its installation of the medical equipment base connected by Edison’s artificial intelligence healthcare platform. GE to differentiate.
Perspective of the doctor
Dr. Yale Tung-Chen, head of the ultrasound division in internal medicine at Puerta de Hierro University Hospital, Majadahonda in Madrid, is one of the doctors who had early access to Vscan Air as a clinical evaluator.
She currently works at Isabel Zendal Emergency Hospital, which specializes in Spanish Covid-19, and said she swears by manual ultrasound devices, especially for use in emergencies, where time is precious and rapid diagnosis can have important consequences.
“How can I perform 30 full exams in a short amount of time? It’s impossible,” Tung-Chen said of examining patients in a busy emergency room. “I need to get something out of my pocket and take a look that won’t take more than a minute or two and then make the decision.”
Dr. Yale Tung-Chen, head of the ultrasound division in internal medicine at Puerta de Hierro University Hospital, Majadahonda in Madrid, Spain, who was a clinical evaluator at Vscan Air. She currently works at the Isabel Zendal Emergency Hospice specializing in Spanish Covid-19
Source: Dr. Yale Tung-Chen
Tung-Chen has used many handheld ultrasound devices, including those manufactured by GE’s competitors, but said in an interview that he was surprised by the high-quality image Vscan Air could capture. The two-sided probe design allows technicians to switch between shallow and deep exams simply by flipping the device, he said. Normally, this would require the doctor to change the probe, which would mean precious time.
This feature is particularly important, he explained, on heart tests, which Tung-Chen has used to help diagnose patients with Covid-19, as well as to monitor disease progression to determine if the patient is getting worse. He said the ultrasound device can help doctors find early signs of life-threatening diseases like Covid-19, but added that he does not see the device completely replacing traditional diagnostic tools like stethoscopes.
“Ultrasound makes bad doctors good and good doctors even bigger,” he said.
Outlook 2021
Murphy said he still sees strong growth in 2021. On GE’s Investor Day last week, the healthcare unit reported $ 2.6 billion in free cash flows for 2020, up from $ 1.2 trillion in 2019. Murphy went say that is mainly due to the delivery of 50,000 ventilators, which were widely used last year to help patients with severely ill Covid-19.
“We’ve had a successful year. We’ve handled an incredible number of headwinds well,” said Murphy, who added that the company’s role in the pandemic has helped boost employee morale.
The company earns most of its money from the sale and maintenance of equipment used for elective procedures, which was delayed in much of the world as hospitals focused on treating patients. of Covid-19. As patients want to return to the hospital for X-rays, MRIs, procedures required for anesthesia and more, Murphy said all of this will benefit the business.
The health care unit predicts that in 2021 the free cash flow will be slightly upward, based on a slight increase in revenue and the expansion of the profit margin.
“Everyone says well, Covid gave you a fantastic year, but Covid suppressed quite a bit, something that comes back this year,” he said. “We started really well and I’m sure we’ll have a good year.”
Correction: On GE Investor Day last week, the healthcare unit reported $ 2.6 billion in free cash flows for 2020, up from $ 1.2 billion in 2019. An earlier version of this article mislabeled the figure of free cash flows.