GE Healthcare has announced a joint venture with Intel Corporation, in which each company will reportedly hold a 50% stake. The new company will aim to provide quality of life improvements for patients who need to be closely monitored, such as seniors and those with chronic illnesses, through the implementation of technologies such as telemedicine. The name or headquarters location for the new company have not been announced.
More from the press release:
The venture builds on the GE-Intel healthcare alliance announced in April 2009 around independent living and chronic disease management. GE and Intel share a common vision to use technology to bring more effective healthcare into millions of homes and to improve the lives of seniors and people with chronic conditions. With the dramatic increase of people living with chronic conditions, and a global aging population, there is a need to find new models of healthcare delivery and extend care to the home and other residential settings.
Once formed, the new company will develop and market products, services and technologies that promote healthy, independent living at home and in assisted living communities around the world. It will focus on three major segments: 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®.
“New models of care delivery are required to address some of the largest issues facing society today, including our aging population, increasing healthcare costs and a large number of people living with chronic conditions,” said Intel President and CEO Paul Otellini. “We must rethink models of care that go beyond hospital and clinic visits, to home and community-based care models that allow for prevention, early detection, behavior change and social support. The creation of this new company is aimed at accelerating just that.”