GE-Intel venture to promote independent living

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GE and Intel have formed an equal joint-venture healthcare company dedicated to telehealth and independent living.

The company will combine the assets of GE Healthcare’s Home Health division and Intel’s Digital Health group, and will be headquartered in California.

Pending regulatory and other closing conditions, the joint venture is expected to become operational by the end of the year. Financial terms were not disclosed.

According to a statement, the venture builds on the GE-Intel healthcare alliance announced in April 2009 around independent living for elderly people and chronic-disease management.

Once formed, the company will develop and market products, services and technologies that promote independent living at home, and in care homes and hospitals around the world.

The company will focus on chronic-disease management, independent living and assistive technologies. GE Healthcare and Intel will contribute assets in remote patient monitoring, independent living concepts and assistive technologies, such as the Intel Health Guide, Intel Reader and GE Healthcare’s Quietcare.

‘Controlling healthcare costs while bringing quality care to an increasingly ageing population is one of the largest global challenges we face today,’ said Jeff Immelt, GE chairman and chief executive officer. ‘We think this joint venture will offer great potential to address these challenges by improving the quality of life for millions, while lowering healthcare costs through new technology.’

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