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GE Launches $250 Million Healthymagination Fund - New equity investment fund to
invest in high potential healthcare technology companies; Supports GE’s global
Healthymagination initiative, focusing on cost, access and quality.
Fairfield, CT, USA – October 21, 2009 — GE (NYSE: GE) announced today the
formation of the “GE Healthymagination Fund”, a new equity fund that will make
investments in highly promising healthcare technology companies. The fund will
invest in companies globally that have innovative diagnostic, IT, and life
sciences technologies aligned with the strategic objectives of GE’s
Healthymagination initiative. The fund will also support healthcare companies
developing innovative and unique business models and services.
The formation of the fund is part of GE’s $6 billion Healthymagination
initiative, a global commitment to deliver better healthcare to more people at
lower cost. 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.
The fund will draw on capabilities from across GE Healthcare, GE Capital and GE
Global Research, and will have a global footprint.
“The creation of the GE Healthymagination Fund reaffirms our commitment to
innovation in healthcare to bring better health to more people,” GE Chairman and
CEO Jeffrey Immelt said. “As GE works on solutions to healthcare’s biggest
challenges, it is vitally important that we support the development of companies
with promising technologies or business models that are aligned with our
strategy and have the potential to shape the future of healthcare. This includes
smarter processes and technologies that measurably increase access to
healthcare, reduce the cost of delivery and improve quality. The
Healthymagination Fund gives us an opportunity to work with emerging companies
to support their development, as well as provide them access to our technology
base and our global presence.“
“GE is able to offer a unique proposition to promising healthcare companies,”
Immelt said. “In addition to providing growth capital and investment expertise,
through this fund we offer entrepreneurs the opportunity to work directly with a
global leader in healthcare technology in areas of mutual interest.”
For further information about the fund, visit
www.healthymaginationfund.com
.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services that
are shaping a new age of patient care. Our broad expertise in medical imaging
and information technologies, medical diagnostics, patient monitoring systems,
drug discovery, biopharmaceutical manufacturing technologies, performance
improvement and performance solutions services help our customers to deliver
better care to more people around the world at a lower cost. In addition, we
partner with healthcare leaders, striving to leverage the global policy change
necessary to implement a successful shift to sustainable healthcare systems. Our
"healthymagination" vision for the future invites the world to join us on our
journey as we continuously develop innovations focused on reducing costs,
increasing access and improving quality and efficiency around the world.
Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of
General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than
46,000 people committed to serving healthcare professionals and their patients
in more than 100 countries. For more information about GE Healthcare, visit our
website www.gehealthcare.com .
About GE Global Research
GE Global Research is one of the world's most diversified industrial research
organizations, providing innovative technology for all of GE's businesses.
Global Research has been the cornerstone of GE technology for more than 100
years, and is now focused on developing breakthrough innovations in areas such
as molecular medicine, energy conversion, nanotechnology, advanced propulsion
and security technologies. GE Global Research is headquartered in Niskayuna, New
York and has facilities in Bangalore, India; Shanghai, China; and Munich,
Germany. Visit GE Global Research at
www.ge.com/research .
About GE Capital
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com.
GE (NYSE: GE) is Imagination at Work - a diversified technology, media and
financial services company focused on solving some of the world's toughest
problems. For more information, visit the company's Web site at
www.ge.com .
Contacts:
Media
Conor McKechnie
GE Healthcare EMEA
T: +44 (0) 1494 498 276
M: +44 (0) 771 751 7028
conor.mckechnie@ge.com
College Hill
Tony Stephenson
Dr Lynne Trowbridge, Dr Marc Egelhofer, Cosima Toepfer
T: +44 (0)20 7866 7861
M: +44 (0) 7989 855113
ge-corporate@collegehill.com
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