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GE launches $250 million health fund

GE announced the formation of a new equity fund that will make investments in highly promising healthcare technology companies. The formation of the fund is part of GE’s $6 billion initiative, a global commitment to deliver better healthcare to more people at lower cost.

The fund called “Healthymagination” will invest in companies globally that have innovative diagnostic, IT, and life sciences technologies aligned with the strategic objectives of GE’s initiative. The fund will also support healthcare companies developing innovative and unique business models and services.

The fund will target three broad areas for investment:

• Broad-based diagnostics, including imaging, home health, patient monitoring, molecular diagnostics, pathology, novel imaging agents and other technologies for disease diagnosis.

• Healthcare information technology, including electronic medical records, clinical information systems, healthcare information exchanges and value-added data services.

• Life sciences, including tools for research and development in biopharmaceuticals and stem cells, and technologies for manufacturing of biopharmaceuticals and vaccines.

It is not the first initiative of GE Healthcare and the industry. A consortium of public and private institutions were formed last year to manage a research program aiming to find new ways of elderly care and to develop new methods of controlling the health status of this age group remotely in emergency.

Half a year ago GE Healthcare also started an R&D project in its Szeged office with a budget of HUF 221 million. The project targets the development of medical software applications that could help cure patients suffering from cancer more effectively by using the information from a special Dual Energy CT tool.

The latest initiative of GE Healthcare is the Bridge of Health (Egészség Hídja), organizing a walk on the Chain Bridge of Budapest every year and motivating women to have themselves screened and to switch to a healthier lifestyle. A new campaign about the matter involved 16 partner companies and their 100,000 employees engaging them for a more health conscious lifestyle. (BBJ Online)