GE HealthCare Technologies Inc. (NASDAQ:GEHC) Q1 2024 Earnings Conference Call April 30, 2024 8:30 AM ET

Company Participants

Carolynne Borders - Chief Investor Relations Officer
Peter Arduini - President and Chief Executive Officer
Jay Saccaro - Vice President and Chief Financial Officer

Conference Call Participants

Suraj Kalia - Oppenheimer
Edward Ridley-Day - Redburn Atlantic
Sezgi Ozener - HSBC
Craig Bijou - Bank of America
Larry Biegelsen - Wells Fargo
Ryan Zimmerman - BTIG
Graham Doyle - UBS
Matt Taylor - Jefferies

Operator

Good day and thank you for standing by. Welcome to GE Healthcare's First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note that today's conference may be recorded.

I will now turn the conference over to your speaker host, Carolynne Borders, Chief Investor Relations Officer. Please go ahead.

Carolynne Borders

Thanks, operator. Good morning and welcome to GE Healthcare's first quarter 2024 earnings call. I'm joined by our President and CEO, Peter Arduini; and our Vice President and CFO, Jay Saccaro.

Our conference call remarks will include both GAAP and non-GAAP financial results. Reconciliations between GAAP and non-GAAP measures can be found in today's press release and in the presentation slides available on our website. During this call, we'll make forward-looking statements about our performance. These statements are based on how we see things today. As described in our SEC filings, actual results may differ materially due to risks and uncertainties.

And with that, I'll hand the call over to Peter.

Peter Arduini

Thanks, Carolynne and thanks to all those joining us today. We've made good progress against our key priorities for 2024. In the first quarter, we delivered margin expansion while continuing to invest in innovation to help solve the evolving needs of customers and patients. Healthy backlog, orders growth and positive book-to-bill position us for accelerated growth for the rest of the year.

Today, we reaffirmed our 2024 guidance which Jay will discuss in greater detail. Now I'd like to highlight some milestones that illustrate our commercial execution. We're making steady progress with large multiyear multi-modality deals across equipment and service, resulting in incremental share gains. In the U.S., we secured a 10-year strategic alliance with OSF HealthCare to deliver technology, digital solutions and equipment management services to help clinicians improve care delivery and patient outcomes.

We also extended our relationship with Hartford HealthCare to run through 2030. As a trusted partner, we'll continue to work together to optimize their imaging fleet and provide specialized support from our GE Healthcare service technicians. Our care pathway strategy is progressing well, enabling commercial growth opportunities and introducing us to adjacent markets with attractive growth potential. For example, last week, we announced the expansion of our collaboration with Elekta to enhance their radiation therapy planning offerings using MIM Software which we acquired in April.