GE, Microsoft to launch healthcare joint venture
Dubai, December 8, 2011
General Electric, through its healthcare IT business, and Microsoft have announced plans to create a joint venture aimed at helping healthcare professionals use real-time, system-wide intelligence to improve healthcare quality.
Upon formation, the new company will develop and market an open, interoperable technology platform and innovative clinical applications focused on enabling better population health management to improve outcomes and the overall economics of health and wellness.
As healthcare providers and payers around the globe shift from episodic single-patient care to continuous population management, new requirements have emerged for integrated care processes, greater insight and engaging patient experiences.
These delivery system reforms, including a shift toward new payment models, require healthcare providers to address gaps and integrate data across silos of care delivery to help enable better care coordination and performance improvement.
This new venture will combine Microsoft’s expertise in building platforms and ecosystems with GE Healthcare’s experience in clinical and administrative workflow solutions, empowering healthcare professionals and organizations with the intelligence and capabilities to respond to the rapidly evolving and complex healthcare landscape.
“The complementary nature of GE Healthcare’s and Microsoft’s individual expertise will drive new insights, solutions and efficiencies to further advance the two companies’ shared vision of a connected, patient-centric healthcare system,” said Jeffrey R Immelt, chairman and CEO of GE.
“The global healthcare challenges of access, cost and quality of care delivery are creating a new focus on the performance and accountability of healthcare delivery systems – in every country, at every level of care. This venture will demonstrate what is possible when leading companies with complementary capabilities work together to meet a common goal.”
The new company will deliver a distinctive, open platform that will give healthcare providers and independent software vendors the ability to develop a new generation of clinical applications.
The venture will develop healthcare applications on the platform using in-house developers and the platform will connect with a wide range of healthcare IT products. GE Healthcare IT will immediately be able to connect existing products to the platform, helping current customers to derive new insights.
“High quality affordable healthcare is one of the biggest challenges facing every nation, but it’s also an area where technology can make a huge difference,” said Steve Ballmer, CEO of Microsoft.
“Combining Microsoft’s open, interoperable health platforms and software expertise with GE’s experience and healthcare solutions will create exciting opportunities for patients and healthcare providers alike. Working together, GE and Microsoft can help make healthcare systems more intelligent and cost efficient while improving patient care.”
The new venture complements the existing offerings from both parent companies and is expected to yield job growth in its first five years of existence. It will operate globally, offering interoperability platforms and application solutions targeting both healthcare providers and payers.
Michael J Simpson, vice president and general manager at GE Healthcare IT, will serve as the company’s CEO.
The new company, which has yet to be named, will be headquartered near the Microsoft campus in Redmond, in the US state of Washington, with significant presence in Salt Lake City, Utah and additional cities around the world.
Launch of the new joint venture is subject to customary conditions, including regulatory approvals, and is expected in the first half of 2012. – TradeArabia News Service