Slew of IT deals, including GE-Intel, announced
Taking dead aim at the baby boomers’ future healthcare needs, two technology giants, GE Healthcare and Intel Corp., announced they were forming a joint venture to tap what’s expected to be a multibilliondollar market for systems to support independent living and chronic disease management programs.
Meanwhile, four other healthcare industry firms formed new alliances last week with an increased focus on using information technology to improve quality analysis and reporting and to control costs. Patientsatisfaction ratings firm Press Ganey Associates, South Bend, Ind., acquired one of the nation’s forerunner systems for clinical performance measures, the Maryland Hospital Association’s Quality Indicator Project, or QIP, for undisclosed terms. And Ingenix, Eden Prairie, Minn., a division of UnitedHealth Group, revealed plans to acquire Executive Health Resources, Newtown Square, Pa., a company that provides software and services that help hospitals with physician medical management and necessity compliance.
News of the GE/Intel joint venture comes after an April 2009 announcement that the two companies had formed an alliance focused on disease management and eldercare services and products. The new joint venture also will have a sector devoted to assistive technologies for people who are learning-disabled or visually impaired, according to Louis Burns, vice president and general manager of Intel’s Digital Health Group. Burns will be CEO of the new and asyet unnamed Sacramento, Calif.-based company when it becomes operational later this year, according to a news release.
“What we found is that our beliefs and products really complemented each other, and this seemed like a great next step,” Burns said in an interview.
Financial terms of the agreement were not disclosed, but the company will be owned equally by GE and Intel.
“The end goal is success in this marketplace, and we’re both committed to doing whatever we have to do,” Omar Ishrak, president and CEO of GE Healthcare, said in an interview. Ishrak will be chairman of the new company’s board.
There is little doubt that GE and Intel are targeting a growth market. “You have the aging of the population—the baby boomers, of course—are going to be needing more