Anthony Ventress, Global Service General Manager of GEHC's Ultrasound Business
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GE Healthcare announced today the acquisition of Unisyn Medical Technologies’ Transactional Business, which includes their Probe Repair, Multi-Modality Parts, and Test Equipment businesses.
With operations in Golden, CO, Unisyn’s Transactional business is a leading national provider of ultrasound probe repair and exchange providing biomedical and clinical engineers with a full range of probe repair and exchange solutions. This will help to expand GE’s Ultrasound Service footprint globally. The combination of Unisyn’s repair expertise and GE’s scale will provide value by meeting customers’ needs with a fast, cost effective and reliable probe repair solution.
Under the leadership of Anthony Ventress, Global Service General Manager of GEHC’s Ultrasound business, the proprietary products and services from Unisyn will be integrated into GE’s Services organization. Here’s what he had to say about the acquisition and what it means to GE Healthcare.
Why is GE Healthcare acquiring Unisyn’s Transactional Business?
Unisyn’s Transactional Business is a leading national provider of ultrasound probe repair and exchange, and one of our main challenges has been not being able to provide customers with in-house care and repair for their probes. With the acquisition of Unisyn, we now have the ability to provide repair in-house for our customers.
The acquisition will also drive cost savings on fulfillment of existing service contracts, increase the percentage of customers who purchase service contracts, expand on demand service (ODS) of GE probes, and serve multi-vendor probe customers.
How will this acquisition uniquely position GE Healthcare Ultrasound Services for growth?
This acquisition gives GE the capability to become a full solution, service provider for our customers. We want to be their lifecycle vendor while keeping our products up-to-speed, with the right specifications and quality.
Unisyn also has a patented technology in its proprietary FirstCall™ probe testing device. The patented technology will enable Unisyn to diagnose, repair, and thoroughly test each and every probe before shipment back to the customer.
GE Healthcare Ultrasound’s overall mission is to be able to properly repair the probe and provide our customers with cost effective and valuable solutions.
Will this acquisition help address customers probe repair challenges globally?
Absolutely. We’ll become a one-stop shop for our customers; a place where they can take care of their probe needs regardless of the issue or stage in the lifecycle.
This acquisition seems pretty exciting. Can you explain some of the customer’s current challenges related to probe repair? How will GE through this acquisition look to addresses these customers’ needs? Explain what this means for current and future GEHC customers?
Currently, when a customer has an issue with their probes, their first reaction is to call whoever sold them that probe. In the past, customers not covered by a GE contract would call us for a solution, but because we didn’t have probe repair as an offering, we could only offer probe repair at basically the same price as buying a new probe.
This option wasn’t working for our customers, and now we have the chance to not only provide probe repair in-house but also save them money. With this acquisition, we can become our customers’ partner by minimizing downtime, providing cost effective solutions, and taking care of their needs at the point of failure.
What is the market opportunity from an Ultrasound perspective? From a Services perspective?
This gives GE a strong opportunity to grow and provide better quality products and service. Customers are going to search for vendors who can give them a cost effective probe repair solution. Now, GE will be able to sell a customer a product with full lifecycle service, which will help draw repeat sales. It is estimated that probe repair is a $185 million opportunity and therefore, GE has an opportunity to capture some of that business.
What benefits/improvements can this expanded offering provide to the overall patient care experience?
With this new portfolio, GE will have a better understanding of design specifications along with the expertise and ability to produce better image quality. This will not only drive better outcomes for GE customers but also improve the overall patient care experience. GE will now have the capacity to meet customers’ unique demands and needs.