Forestay Capital is excited that its Belgium-based portfolio company icometrix, a leader in AI-powered brain imaging analysis, announced an agreement to be acquired by GE HealthCare (Nasdaq: GEHC).
The company’s flagship platform, icobrain, offers a comprehensive suite of AI-powered tools for neurological disease analysis. Among its innovations is icobrain aria, the first FDA-cleared AI solution for detecting known side effects of amyloid-targeting therapies used to treat Alzheimer’s disease.
Forestay first invested in icometrix in 2019, leading the company’s $18 million Series A financing alongside Optum Ventures and existing investors Capricorn Partners and Heran Partners. Founded in 2011, icometrix has grown into a global leader in quantitative analysis of brain imaging, with solutions supporting personalized treatment in neurological disorders such as Alzheimer’s disease, multiple sclerosis, and traumatic brain injury.
The anticipated acquisition by GE HealthCare will align with its precision care strategy, expanding its neurological care portfolio and strengthening its role in advancing quantitative, AI-driven solutions for brain health. “Building on our existing relationship, we are excited by the prospect of joining GE HealthCare and leverage icometrix’ innovation talents and customer relationships to continue to improve the diagnostic and treatment journey for both neurological clinicians and their patients,” said Wim Van Hecke, icometrix CEO. “Together, we aim to leverage our complementary technology to address the complexities of managing neurological care.”
“We are incredibly proud to have backed icometrix for several years and to see the company reach this major milestone. Their innovative AI-powered brain imaging technology is truly transforming neurological care, and the acquisition by GE HealthCare validates the vision and hard work of the icometrix team. This achievement underscores Forestay’s commitment to supporting bold pioneers who are defining new categories and driving meaningful impact,” said Jonas Jeandupeux, Principal at Forestay.
Consummation of the transaction is subject to customary closing conditions, including regulatory approvals.
