BOSTON--(BUSINESS WIRE)--GE Healthcare has entered into an agreement to invest up to $50 million in Israeli start-up Pulsenmore, marking another strategic step forward in enabling precision health. This investment is aimed at accelerating global adoption of Pulsenmore’s homecare ultrasound solutions and will also support their goal to pursue U.S. FDA clearance and commercial expansion. In addition to its equity investment, GE Healthcare will also partner with Pulsenmore to distribute its products in Europe and other markets as the product becomes available for commercial distribution and collaborate closely on developing ultrasound-based healthcare offerings that cater to the burgeoning homecare market, which is expected to reach USD $662.67 billion by 2027 and poised to grow at a compound annual growth rate of 14.2%i.
The telehealth market is projected to expand at a compound annual growth rate (CAGR) of over 30% from 2022-2029ii, creating a need for robust technologies that can improve remote monitoring and clinical decision-making. Pulsenmore is well positioned for this market with its novel self-operated prenatal home ultrasound solution, which, combined with a smartphone, enables pregnant women to self-scan for remote clinical assessment by their healthcare provider.
The complete product offering includes a handheld ultrasound device that docks with the user’s smartphone; a mobile app for the patient to conduct offline/online consultation with a clinician; a web application for clinician-side interaction with the platform; and a software API enabling integration of Pulsenmore’s online services with organization health records. The periodic fetal ultrasound scanning and consultation enabled by the Pulsenmore device can be offered as an online clinician-guided telecommunication service or as an offline application-guided service.
Pulsenmore CEO and founder Dr. Elazar Sonnenschein said, “Our agreement with GE Healthcare is a resounding vote of confidence in our ultrasound technology and our company. With GE Healthcare’s market leadership position and reach, we are one step closer to achieving our vision of making home ultrasound universally accessible for remote and reliable care, ultimately improving maternal health across the globe. Through this exciting partnership, we will accelerate the empowerment of women to proactively manage their pregnancy, in collaboration with their health care providers, and will lead the next wave of ultrasound innovation that will benefit patients and providers alike.”
GE Healthcare Ultrasound President and CEO Roland Rott said, “Healthcare providers are predicting a significant shift of care services from traditional facilities to the home, which will require an increase in the level of quality or access. Homecare opens the door to tremendous value for payers, healthcare facilities, physician groups and care-at-home providers, with the opportunity to improve patients’ quality of care and experience. We also recognize the desire of patients—in this case, pregnant women—to be more empowered and involved in their healthcare. This is precisely why we are investing in Pulsenmore’s innovative homecare ultrasound technology. We are excited about adding this highly complementary offering to our market leading Women’s Health and Primary Care standard of care ultrasound diagnostics solutions, marking a strong step forward in enabling precision health.”
Additional applications and devices are currently under development by Pulsenmore, including remote follicular monitoring for women undergoing in-vitro fertilization (IVF) as well as remote monitoring for chronic heart failure (CHF) and end-stage renal disease (ESRD). The Pulsenmore prenatal ultrasound platform has already been implemented successfully across Israel in partnership with the country’s largest HMO, Clalit Health Services. Most recently, physicians at Israel’s Sheba Medical Center have been using the device to conduct prenatal ultrasounds on refugees at the Ukraine border as part of a new ‘virtual hospital’ that has Israeli medical staff caring for people injured or displaced in the conflict.
About GE Healthcare
GE Healthcare is the $17.7 billion healthcare business of GE (NYSE: GE). As a leading global medical technology, pharmaceutical diagnostics and digital solutions innovator, GE Healthcare enables clinicians to make faster, more informed decisions through intelligent devices, data analytics, applications, and services, supported by its Edison intelligence platform. With over 100 years of healthcare industry experience and around 48,000 employees globally, the company operates at the center of an ecosystem working toward precision health, digitizing healthcare, helping drive productivity and improve outcomes for patients, providers, health systems and researchers around the world.
Pulsenmore is a world leader in portable ultrasound devices for home use and is the first to enable patients to self-scan for remote clinical assessment. The company was founded in 2014 by its CEO, Dr. Elazar Sonnenschein, and aims to make home ultrasound universally accessible for remote and reliable care. The flagship product for fetal ultrasound is approved for marketing in Europe (CE) and in Israel. Clinical studies in the U.S. are currently underway. Pulsenmore is traded on the Tel Aviv Stock Exchange (TASE: PULS).
i Precedence research – Global Home Healthcare Market 2016-2027
ii Grand View Research – Telehealth Market Size & Share Report 2022-2028 – “CAGR of 36.8% from 2022-2029”