Hg is to sell medical imaging software specialist Intelerad to GE HealthCare in a transaction valued at approximately $2.3bn, marking a full exit from its majority stake with minority investors TA Associates and Ardan Equity also divesting their positions.
During Hg’s ownership, Intelerad significantly expanded its business, growing revenue by more than 3.5 times and completing eight strategic acquisitions. The company now serves over 1,500 customers worldwide, supporting more than 230 million medical exams annually and managing eight billion medical images.
Intelerad’s AI-powered platform, including its InteleGence solution, will complement GE HealthCare’s digital transformation initiatives. The combined business aims to streamline imaging workflows, enhance diagnostic throughput, and provide clinicians with actionable insights across care settings.
Hg highlighted its role in scaling Intelerad’s product suite into a comprehensive enterprise imaging platform covering radiology, cardiology, mammography, image exchange, and storage, as well as strengthening leadership and operational capacity.
Hector Guinness and Laura Grattan, partners at Hg, described the partnership as “an outstanding journey of innovation, growth, and leadership in healthcare technology,” expressing confidence that GE HealthCare will continue to expand Intelerad’s global impact.
The transaction was advised by Evercore and Sidley Austin for GE HealthCare, with UBS Investment Bank and Skadden, Arps, Slate, Meagher & Flom advising Intelerad.
