GE Healthcare, the $18 billion healthcare technology division of GE, has announced the creation of a new business unit, Sustainable Healthcare Solutions (SHS), which will develop high-value, low-cost technologies and healthcare delivery solutions across multiple care settings.
The new organisation will invest $300 million as part of a multi-phase effort to develop a more robust affordable healthcare portfolio for customers.
The unit will combine GE Healthcare’s operations in all 54 African countries, India, South Asia and Southeast Asia. According to GE Healthcare, SHS will work with governments, clinicians, private operators and NGOs to deliver value-based solutions aimed at improving outcomes for health systems and patients.
“Much of the world’s population is without adequate healthcare, and innovations that can create better patient outcomes in a sustainable way are urgently needed,” said President and CEO of GE Healthcare, John Flannery. “Many emerging economies are looking for experienced partners to help build skills, capacity and effective healthcare solutions for their patients.”
GE Healthcare has experience in developing innovations for emerging markets. For example, its handheld ultrasound device Vscan Access and Lullaby infant warmer are improving outcomes in remote rural settings in maternal infant care, a major focus area for many emerging markets.
The low-cost healthcare equipment sector is now estimated to be worth over $8 billion and growing significantly as developing countries continue to invest in effective, long-term healthcare solutions to improve the health of their populations.
“SHS will leverage GE’s Fastworks methodology to accelerate, test and rapidly commercialise relevant, affordable technologies. By taking this ‘start-up’ model approach we can rapidly test new ideas, products and services to maximise effectiveness for customers before we scale up,” said President and CEO of GE Healthcare’s Sustainable Healthcare Solutions unit, Terri Bresenham.
“From basic primary care delivery through to more complex, structural healthcare challenges, SHS will aim to combine GE Healthcare’s capabilities and scale with the local know-how and expertise of our partners across Africa, Southeast Asia, India and South Asia,“ concluded Bresenham.