Health Care IT: Intel, GE Will Partner for Health Care IT, Invest $250 Million
Intel and General Electric plan on investing $250 million over the next five years in a joint partnership to develop health care IT technologies, including the Intel Health Guide, a box that allows users to check both their recent health history and communicate with their health care provider. In a presentation in New York, both companies predicted that the market for telehealth and home health monitoring will reach $7.7 billion by 2012, as the United States faces a growing number of citizens over the age of 65. To service that core group, Intel and GE will explore technologies in areas including fall prevention, medication compliance, sleep apnea and cardiovascular disease. Both Intel CEO Paul Otellini and General Electric CEO Jeff Immelt see increased health care IT investment as a key factor in lowering the United States' overall health care costs, which present an increasing burden on the U.S. economy.