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Intel, GE Form Joint Venture to Develop High-Tech Home Health Care Products

Intel Corporation and GE will jointly invest $250 million in a partnership that will develop and market home-based healthcare technologies aimed professionals who care for senior citizens and those with chronic illnesses. A statement from both companies says that GE Healthcare will sell and market the Intel Health Guide, a care management tool that will allow healthcare professionals to use technology to monitor patients' conditions while the patients are at home or other locations. The companies predict that the market for telehealth and home health monitoring will grow from $3 billion this year to $7.7 billion by 2012. "Most of the healthcare discussions today focus on the integration of more technology into traditional healthcare settings. While those investments are necessary and will create a more efficient healthcare system, it is not sufficient to meet the growing needs that are about to impact a system that is already at a saturation point," says Intel President and CEO Paul Otellini. "The GE and Intel partnership will not only help seniors and the chronically ill, but will also take a giant step forward in changing how healthcare is delivered." Says GE Chair and CEO Jeff Immelt, "We think this partnership offers the potential to lower [healthcare] costs by keeping people out of hospitals while giving health professionals the data they need to deliver the best possible care."

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