Alliance announces $250million investment in home-based health technologies
1 min read
Intel and GE have announced plans to form a new company dedicated to telehealth and independent living.
Assets will be combined from Intel's digital health group and GE Healthcare's Home Health division, including the Intel Health Guide, the Intel Reader, and GE QuietCare. The alliance has been established to market and develop home-based health technologies for senior citizens and patients with chronic conditions.
Over a period of five years, an investment of over $250million is planned for the research and product development of home based health technologies.
GE's chairman of the board and ceo, Jeff Immelt, said: "Improving healthcare accessibility and reducing costs are essential to economic recovery and growth. We think this partnership offers the potential to lower costs by keeping people out of hospitals while giving health professionals the data they need to deliver the best possible care. Intel and GE share a vision to use technology to bring effective healthcare into millions of homes and to improve the lives of seniors and people with chronic illness. Together we can deliver innovative products to serve this rapidly growing market."
GE's Omar Ishrak will take on the role of the new company's chairman of the board, while Intel's Louis Burns will become ceo.
According to Intel, the joint venture reflects both companies' commitment to finding new models of healthcare delivery and extending care to the home.
