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SyntheticMR signs license agreement with GE Healthcare

SyntheticMR has entered into a license agreement with GE Healthcare regarding SyMRI IMAGE. The agreement gives GE the right to sell a customized version of SyntheticMR’s software directly to its customers globally. GE Healthcare is now introducing the software, which is marketed under the name MAGiC, at RSNA.

In the quarterly report for the second quarter of 2014, SyntheticMR announced that it had signed a licensing agreement with a leading MRI supplier. In conjunction with the partner’s market introduction of the product, SyntheticMR can now reveal that the partner is GE Healthcare, one of the largest and market leading MRI suppliers on a global scale. The license agreement relates to SyMRI IMAGE, SyntheticMR’s software dedicated to optimized workflows and short scan times using synthetic MRI, and gives GE the right to sell an integrated and customized version of the software directly to its customers globally.

“SyMRI is a product that we early on have had global ambitions with, and the strategy to reach a global market has always been through a combination of partnerships with leading market players and direct sales. I see this as a great success for the company, and it pleases me very much to be able to present GE Healthcare as a strategic partner to SyntheticMR. I look forward to continued productive collaboration that will be beneficial for both companies and an important improvement in patient care that gives both quality and cost effectiveness”, says Stefan Tell, CEO of SyntheticMR AB.

GE Healthcare is introducing MAGiC at RSNA (Radiological Society of North America), the world’s largest radiology conference, taking place in Chicago, USA, 30 Nov – 5 Dec. MAGiC is 510(k) pending at the U.S. FDA.

In 2012, SyntheticMR signed an evaluation agreement with GE Healthcare, allowing GE to further evaluate SyMRI directly at customer sites. The parties have now signed a non-exclusive license agreement that allows GE Healthcare to offer a customized version of SyMRI IMAGE as an option per MRI system. The customized version of SyMRI IMAGE from GE Healthcare is marketed under the name MAGiC. The agreement includes no guaranteed volumes in terms of sold units.

Source: SyntheticMR press release