(Reuters) -GE HealthCare said on Thursday it will acquire medical imaging software provider Intelerad for $2.3 billion in cash as the medical device maker seeks to expand into outpatient care markets.

Intelerad offers cloud-based medical imaging software and digital enterprise workflow solutions, and has a significant presence in outpatient ambulatory care settings that provide medical services without requiring an overnight hospital stay.

GE HealthCare’s medical equipment are prominent in hospitals. Outpatient enterprise imaging presents an attractive high-growth, $2 billion-plus opportunity for the company worldwide, it said.

The medical device maker expects Intelerad’s acquisition to immediately lift revenue growth and margins, and deliver a high single-digit return on invested capit

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