GE HealthCare Acquires Intelerad (~28.4x EBITDA)
- Will Hamilton
- Nov 22, 2025
- 2 min read
Updated: 2 days ago
On November 20, 2025, GE HealthCare announced the acquisition of Intelerad, a global provider of enterprise imaging informatics and radiology IT solutions, in a transaction that further expands GE HealthCare’s digital imaging and clinical workflow capabilities. Intelerad’s platform includes radiology information systems (RIS), picture archiving and communication systems (PACS), advanced visualization, and cloud-enabled workflow tools serving hospitals, health systems, and imaging centers worldwide. The acquisition reflects GE HealthCare’s strategic emphasis on integrating software, data, and AI-enabled solutions with its installed base of diagnostic imaging equipment to improve clinician productivity and patient outcomes. Financial terms of the transaction were not publicly disclosed.
The combination positions GE HealthCare to offer a more comprehensive end-to-end imaging ecosystem, spanning diagnostic hardware, enterprise imaging software, and analytics-driven workflow optimization. For Intelerad, the transaction provides access to GE HealthCare’s global commercial infrastructure, R&D resources, and deep provider relationships, accelerating international expansion and innovation across cloud and AI-enabled imaging solutions. The deal highlights continued consolidation within imaging informatics, as strategic buyers seek to control mission-critical software layers that sit at the center of radiology operations, reinforcing the long-term value of scalable, interoperable health IT platforms in healthcare M&A.
HealthTech EBITDA Multiples
The press release discloses a $2.3 billion purchase price. Also according to the press release, Intelerad is expected to generated revenue of $270 million, and EBITDA margins are expected to be ~30% ($81m), implying multiples of 8.5x revenue and 28.4x EBITDA.
The implied multiple is slightly higher than the precedents, which is consistent with a general uptrend in digital health valuation multiples.
Digital / HealthTech M&A Deal Volume
The number of announced digital health deals has exploded in 2025, driven by AI led innovation. Volumes have increased from an average of 71 per quarter in 2023 and an average of 82 per quarter in 2024 to an average of 115 per quarter in 2025. Announced transaction volume in the 3rd quarter reached a peak of 135 deals exceeding the peak of 130 deals from Q1 2021. On a subsegment level, telemedicine dealmaking appears to have finally recovered after the post-COVID slow down.
Other HealthTech Deals
Read Scope Research's take on other digital health M&A transactions:
About Scope Research
The Scope Research Healthcare M&A Valuation Database currently has financial details related to 278 digital health and information technology deals, segmented by type, including 155 deals with disclosed EBITDA multiples. The digital health data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
Don't hesitate to reach out to Will Hamilton at will@scoperesearch.co with questions about your specific situation.