GE Receives Frost & Sullivan Marketing Strategy Leadership Award for Advanced Healthcare Information System.

Business & Health Editors

MILWAUKEE--(BUSINESS WIRE)--Oct. 4, 2001

GE Medical Systems Information Technologies today announced that it was selected for the Marketing Strategy Leadership Award in providing an advanced healthcare information system to healthcare providers worldwide. The recognition was given to GE's Picture Archiving and Communications System (PACS) business by Frost & Sullivan, an international strategic marketing consulting firm.

In conducting the 600-hour study, "The U.S. Teleradiology and PACS Market," Frost & Sullivan analyzed several PACS providers, along with each company's share, such as Siemens Medical Solutions, AGFA Medical Imaging, Eastman Kodak Health Imaging Systems/Eastman Kodak Co., and Philips Medical Systems North America. GE received this prestigious award for establishing top U.S. share through successful acquisitions, vigorous sales and marketing strategy, and offering attractive financing options to customers.

According to Frost & Sullivan, one in five healthcare providers are using the technology, which makes digital patient images readily available to clinicians so patients can have medical results faster.

The PACS technology lets doctors view, archive and manage patient images easily throughout their healthcare enterprise. Now doctors can have access to digital patient images in just seconds, rather than waiting hours or even days for hard-copy films to be found.

The Frost & Sullivan study predicts more than half of all healthcare providers will invest in PACS by 2006, and healthcare providers will continue to seek this technology, as the $498 million market is expected to grow at an average annual rate of 14 percent until 2007.

"The increased popularity of PACS really stems from its ability to manage an abundance of information and provide it to the doctor when and where it's needed," said Meltem Buyukonat, Frost & Sullivan industry manager, Medical Imaging and Patient Monitoring Groups. "More than ever, doctors are relying on the proven capabilities of medical imaging equipment to give them more details about a patient's health, and that means they have more information to manage than ever before, so PACS is an advanced solution to this challenge."

According to one PACS expert at GE, the technology delivers benefits both for clinicians and patients. "This technology is the key to improving productivity in healthcare. New imaging technologies and increases in procedure volume have placed a tremendous burden on radiology departments working in an analog environment." said Vishal Wanchoo, vice president and general manager of Radiology Systems at GE Medical Systems Information Technologies. "Radiologists can now use advanced software for viewing hundreds of images, and also have instantaneous access to historical cases that were taken months or even years prior and compare them with the new images to better assess a patient's condition. In addition the findings from these cases can be instantaneously accessed by referring physicians over the web."

"Clearly the rapid adoption of PACS technology around the world can be attributed to the significant benefits that hospitals are realizing in productivity and quality of patient care. It's also a testament of the healthcare industry's confidence in technology and its ability to improve performance, while facing acute labor shortages and increasing financial pressures," said Gregory Lucier, president and CEO of GE Medical Systems Information Technologies.

"Beyond technology, it's about making the most of the change," said Lucier. "We're helping providers make a transformation from paper reports and film to a 100 percent digital process, and that's about more than just new hardware and software. It's about applying decades of experience in working with radiology departments from around the world to effectively implement new processes and fundamentally change the way that Radiologists do their jobs."

About Frost & Sullivan

Founded in 1961, Frost & Sullivan is recognized as a global marketing research and solution leader, with offices located worldwide: Silicon Valley, New York, San Antonio, Toronto, London, Paris, Frankfurt, Beijing, Tokyo, Singapore, Mumbai. Frost & Sullivan, an international marketing consulting and training firm, presents Market Engineering Awards annually to companies that demonstrate the diligence, perseverance, and dedication required to develop a successful business plan and excel in the increasingly competitive global marketplace. For additional information, visit http://awards.frost.com.

About GE Medical Systems Information Technologies

GE Medical Systems Information Technologies is a global leader in providing solutions for the reliable and efficient acquisition, analysis and management of patient data in healthcare facilities around the world. The company's offerings include cardiology, patient monitoring, image management, clinical information systems and performance management services. Information Technologies is a GE Medical Systems Company with global headquarters in Milwaukee, Wis.

GE Medical Systems is an $8 billion global leader in medical technology and services. Additional information about GE Medical Systems and Information Technologies can be found on the company's Web site at www.gemedicalsystems.com.