19 Aug 2024
Proposed sale of Clinical AI Business to GE HealthCare for £40.5 million
Intelligent Ultrasound began as a spin-out from the University of Oxford in 2012, co-founded by Professors Alison Noble and Aris Papageorghiou
We are delighted to celebrate the remarkable achievements of Intelligent Ultrasound, a pioneering company that began as a spin-out from the University of Oxford in 2012. Co-founded by Professors Alison Noble and Aris Papageorghiou, Intelligent Ultrasound has made significant strides in transforming ultrasound technology through cutting-edge artificial intelligence (AI).
From its inception, Intelligent Ultrasound aimed to revolutionise medical imaging by novel application of medical image analysis “intelligence”. It is not an accident that the company was started at the beginning of what is now considered the modern AI era. The company’s innovative AI-driven image analysis tools have improved the accuracy and efficiency of obstetric ultrasound diagnostics.
In a testament of early success, Intelligent Ultrasound was acquired by the ultrasound simulator company Medaphor Ltd in 2017, which subsequently adopted the Intelligent Ultrasound name for the combined entity. This not only highlighted the value of the original spin-out, but also expanded its capabilities and reach, forming the clinical AI division of the new, larger Intelligent Ultrasound.
The University of Oxford's commitment to fostering innovation and supporting entrepreneurial ventures has been pivotal in this journey. The original company was an early spin-out under the Oxford-Technikos deal and early development was in part supported by an SME-university InnovateUK grant.
The success of Intelligent Ultrasound demonstrates how academic research can lead to impactful real-world applications and commercial success.
Technikos Professor of Biomedical Engineering, Alison Noble comments, “I am very proud of what has been achieved. The Intelligent Ultrasound story started with a casual conversation with Aris outside Green-Templeton College, about whether it was possible to engineer a solution to ensure that every acquired ultrasound image is of high enough quality for clinical measurement. Due to a shared belief in a vision, hard work, financial backing and many remarkable people, such AI-enabling ultrasound imaging technology is now used across the world, supporting clinicians in their day-to-day work, and quality standards of obstetrics care".
Professor Aris Papageorghiou (Nuffield Department of Women's and Reproductive Health) reflects on this journey, stating, "We started the original Intelligent Ultrasound as a spin-out from the University of Oxford, based on our initial research including discussions around supporting ultrasound provision in our global studies in maternal and perinatal health. As an academic co-founder with Alison Noble, it’s been an incredible journey, and we learnt more than we ever imagined."
Intelligent Ultrasound’s clinical AI business is being sold to GE HealthCare (subject to standard closing conditions this will be in Q4 2024) . This acquisition, valued at approximately $51 million, will integrate Intelligent Ultrasound’s advanced AI technology into GE HealthCare’s ultrasound portfolio, further enhancing their diagnostic capabilities. The Intelligent Ultrasound clinical AI team are also joining GE HealthCare. Nick Sleep, Chief Operating Officer of Intelligent Ultrasound, remarked, "Becoming part of the GE HealthCare family will help speed the adoption of this technology and make ultrasound even easier for customers to use."
