Bengaluru: 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.

The deal gives GE HealthCare , whose equipment are prominent in hospitals, access to Intelerad 's cloud-based medical imaging software and other solutions that are used by outpatient care clinics.

Outpatient enterprise imaging presents an attractive high-growth, $2 billion-plus opportunity for the company worldwide, GE HealthCare said.

Intelerad also offers products through a software-as-a-service model, helping GE HealthCare significantly increase its recurring revenue.

"As GEHC pushes to increase use of internally developed AI algorithms within Imaging, we think it will pair

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