Intel and GE Team-up for Senior Care

Intel and GE Team-up for Senior Care

In a joint announcement made on Monday, Intel and GE said that they will create a company that will provide medical care technology to seniors and patients with chronic diseases.

“Health care faces a growing challenge as people live longer and care costs rise”, said Omar Ishrak, senior vice president of GE and president and CEO of GE Healthcare Systems. “Chronic illness, already a major health care cost, presents additional issues,” he added.

Ishrak, who will helm the new company, said that chronic illnesses already account for more than 75 percent of U.S. healt care costs.

Both GE and Intel have long been involved in the health care sector. GE Healthcare focuses on cardiology and oncology consulting services and medical devices. Intel meanwhile, started its Digital Health Group in 2005 to explore opportunities for its health research and personal health care products.

The as yet unnamed company will integrate assets of Intel’s Digital Health Group and GE Healthcare’s Home Health Division, and will focus on chronic disease management, independent living, and assistive technologies for the elderly and other patient populations.

The companies will split with the ownership and will launch the new firm by the end of the year. Loius Burns, current vice president and general manager of Intel’s Digital Health Group, will serve as the CEO of the new company, to be based in Sacramento, California.

Burns explained the rationale behind the merger. "We already have products for home monitoring from the alliance," Burns said. "The best way to bring products and solutions to market was to form the company."

Posted by George Daniels on Tuesday August 03 2010, 11:20 AM EST. All trademarks acknowledged. Filed under Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0