Intel and GE will combine the assets of GE Healthcare’s Home Health division and Intel’s Digital Health Group to form a 50-50 joint venture.Pending regulatory and other customary closing conditions, the joint venture is expected to become operational by the end of the year. Financial terms were not disclosed.
The venture builds on the GE-Intel health care alliance announced in 4/09 around independent living and chronic disease management.
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.
The new company will be based in the Sacramento area. Louis Burns, currently vice president and general manager of Intel’s Digital Health Group, will be CEO and Omar Ishrak, senior vice president of GE and president and CEO, GE Healthcare Systems, will be chairman of the board.
Click here for more details on the Intel and GE health care joint venture are available from the Silicon Valley/San Jose Business Journal.
(Thanks to our featured blog "Heavy Doses" for sharing this. Click their link in the right-hand column under "Other Health, Science, and Technology Blogs.)
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