GE to Invest $6B in Health Care Initiatives
GE's Healthymagination initiative aims to reduce health care costs, improve the quality of care and expand health care access for millions of people.General Electric announced May 7 it will invest $3 billion over the next six years in health care innovation. The company also said it would will commit $2 billion of financing and $1 billion in related GE technology and content to improve health care IT and health in rural and underserved areas. The GE Healthymagination program will tap companywide capabilities, including GE Healthcare, GE Capital, GE Water, NBC Universal, the GE Global Research Center and the GE Foundation, the philanthropic arm of GE.
"Health care is an important industry that is challenged by rising costs, inequality of access and persistent quality issues," GE Chairman and CEO Jeff Immelt said in a statement. "Health care needs new solutions. We must innovate with smarter processes and technologies that help doctors and hospitals deliver better health care to more people at a lower cost."