Acquisition of BK Medical Expands GE Healthcare’s Precision Health Presence
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GE Healthcare announced on December 21, 2021, that it has completed the $1.45 billion acquisition of BK Medical from Altaris Capital Partners. According to the press release, the acquisition expands GE Healthcare’s $3 billion ultrasound business from diagnostics into surgical and therapeutic interventions and adds to GE Healthcare’s capability in the fast-growing advanced surgical visualization segment. The acquisition further boosts GE Healthcare’s presence within the field of precision health, which refers to the tailoring of treatments to patients based on their medical histories, genetic makeup, and other factors and has a market that is valued in the tens of billions of dollars based on an article published on GE Healthcare’s website.
BK Medical is a global intraoperative imaging and surgical navigation company headquartered in Boston and Copenhagen. Through its ultrasound technology and software algorithms, BK Medical enables surgeons to make real-time, data-based decisions during surgical procedures, including applications in general surgery, neurosurgery and spine, robotic-assisted surgery, colorectal surgery and urology. BK Medical has more than 650 employees and has protected its technology with more than 136 patent families.
When the deal was first announced in September 2021, GE Healthcare’s President and CEO, Kieran Murphy, emphasized:
Ultrasound today forms an integral part of many care pathways, and BK Medical is a strategic and highly complementary addition to our growing and profitable Ultrasound business. This transaction helps GE Healthcare continue to expand beyond diagnostics into surgical and therapeutic interventions, simplifying decision-making for clinicians and equipping them with greater insights to deliver faster, more personalized care for their patients—representing another step toward delivering precision health.
The acquisition of BK Medical is GE Healthcare’s second acquisition in 2021 within the field of precision health. In May 2021, GE Healthcare announced the acquisition of Zionexa, a company headquartered in France that develops and commercializes in-vivo biomarkers for guiding targeted therapies in oncology.
Sabing H. Lee's practice includes strategic patent procurement, patent portfolio management, intellectual property due diligence and general counseling on infringement, licensing, international IP protection and post-grant proceedings. Sabing currently represents clients in a wide range of technologies, with an emphasis on medical devices and procedures and materials science.
In the medical device field, Sabing has worked extensively with cardiovascular, orthopedic, wound care and aesthetic technologies. He has been involved in the intellectual property strategy and acquisitions of PercuSurge, Inc. (acquired by Medtronic, Inc.), Flex-Foot, Inc. (acquired by Össur hf.), Endius, Inc. (acquired by Zimmer Holdings, Inc.), ev3 Inc. (acquired by Covidien), IDev Technologies, Inc. (acquired by Abbott), and Tornier NV (merged with Wright Medical Group, Inc.), and CardiAQ Valve Technologies, Inc. (acquired by Edwards Lifesciences Corporation).
Sabing currently serves on the Board of Directors for OCTANe, an organization that drives technology industry growth and innovation in Orange County by connecting ideas and people with resources and capital.
From 2013-2017, Sabing has been recognized as a Southern California Super Lawyer in Intellectual Property by Super Lawyers magazine. He received Star recognition in the 2012, 2013, 2014, 2015 and 2016 editions of LMG Life Sciences, published by Managing Intellectual Property. Sabing was named to the Daily Journal's list of the Top Intellectual Property Attorneys of 2014, where he was recognized among the Top 25 Portfolio Managers & Patent Prosecutors of Intellectual Property. His accomplishments are detailed in the Awards & Honors section.
Sabing joined the firm in 1997 and became a partner in 2003.
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