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To build a network of 25 world-class cancer care centres across India at $ 120 Million (INR 750 Crores) investment
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To provide Oncology as a Service to improve access in smaller towns
GE Healthcare, a unit of General Electric Company (NYSE: GE), and Cancer Treatment Services International (CTSI) announced today a strategic partnership to build 25 world-class centres across smaller towns of India to improve access to cancer care. The network will be built at an investment of US $ 120 Mn (INR 750 crores) over a period of five years. The centers will offer latest technology for diagnosing and treating cancer and will follow the same standards of care found at the world's top cancer hospitals delivered at Indian price standards.
"At GE, we envision a day when Cancer is no longer a deadly disease. Scaling up of affordable access to Cancer care requires disruptive solutions and willing partners. We believe a partnership like this one presents a great opportunity to confront India's cancer challenge head on," stated John Dineen, President and CEO, GE Healthcare. He added, "Combining GE Healthcare's innovative technology platforms with CTSI's proven expertise in operating cancer centers affords a fantastic means to tackling cancer early in India."
The incidence of cancer is sharply rising in India with a prevalence of 3 million and annual new addition of 1.23 million cases. The mortality rates are very high due to late detection, access and affordability to care. Estimates suggest two new patients getting added and 3 patients succumbing in two minutes to this deadly and costly disease.
CTSI has built a proven healthcare delivery model tailored to making the highest quality cancer care accessible and affordable. When we launched our international operations, India was a natural place to start. It offers existing medical infrastructure, a pool of talented doctors and a population with the desire to embrace top-notch standards of care. Our partnership with GE accelerates realization of our goal to build out a network in India and ultimately apply our model in similar markets worldwide," added Joe Nicholas, President and CEO, CTSI.
The partnership underscores four critical points to elevate the access, affordability and standard of cancer care in India. First, modern management of oncology patients requires a multidisciplinary approach, meaning that delivering cancer care according to top world standards demands interplay between a team of personnel from a wide range of medical specialties. Second, offering world-class cancer care requires adherence to well-defined, evidence-based medical protocols derived from the world's latest medical research. Third, providing the latest therapeutic options for cancer requires expert use of cutting-edge imaging, treatment and digital record-keeping technologies. Finally, reduce patient effort and spend through a comprehensive an transparent approach in a local, patient friendly environment.
GE and CTSI will configure the network in a hub-and-spoke fashion, with all centers linked by a sophisticated IT network to a hub and supported by a multi-national group of clinicians, and administrators. The hub will be a centre of excellence with xxx capabilities while the spoke will have ability to deliver screening, staging and treatment using globally proven clinical pathways and protocols to standardize the care for every patient. The first hub center, American Oncology Institute, CTSI's international brand, is already operational in Hyderabad, Andhra Pradesh. First spoke or remote centre is being set up in Vijayawada, Andhra Pradesh.
The partners will provide "Oncology as a Service" to interested healthcare providers in tier II/III towns to accelerate and expand the network across India. The approach will take global standard cancer care closer to the patient and help patient optimizing his/her spend through the treatment cycle. Today a patient from a small town/rural area spends over 50% on travel and long stay for treatment. An example is "One Day Breast Clinic" concept at a spoke centre that will allow screening, diagnosis and decision on right treatment on the very same day, closer home.
The GE-CTSI partnership provides hospitals with cutting edge solutions that cover all clinical and technical aspects necessary to offer patients cancer care on a par with that found at top hospitals throughout the United States and Europe, including clinical technology, medical physics services and a worldwide IT network. "CTSI's centralized model features a comprehensive approach to care that combines evidence-based protocols and robust administrative support to promote consistent clinical decision-making and drive efficiency. In our experience, this leads to the best outcomes and service for patients," commented Andrew Shogan, COO, CTSI.
"The partnership between GE and CTSI reflects our shared commitment to stemming the spread of cancer in India and will offer Indian patients the same caliber of preventive, diagnostic and therapeutic options found at any top cancer center around the world but at Indian price points. The Indian healthcare landscape is evolving rapidly, and GE and our partners at CTSI look forward to being at the vanguard of this progress by setting up a complete oncology eco system and standards," concluded Terri Bresenham, President and CEO, GE Healthcare South Asia.
The partners will take steps to improve cancer awareness and employ screening programs though all spoke centres to enable early detection. This week GE also announced the unveiling of first ever PET/CT technology to be designed and developed in India.
About Cancer Treatment Services International, Inc. Cancer Treatment Services International, Inc. (CTSI) is a provider of university-level, comprehensive treatment for cancer patients with a main focus on medical oncology and radiation oncology. Founded by physicians and businessmen with substantial experience in the development, operation and networking of cancer services, CTSI provides innovative and technologically-advanced treatment solutions through an IT-based model that allows integration and centralization of core services. The company currently operates centers and has development projects in both domestic and international markets.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.
GE Healthcare is at work for a healthier India. We are focusing on some of the toughest healthcare challenges of India -- lowering maternal and infant deaths; enable early detection of cancer for early treatment, addressing heart disease the burden etc. We design, develop and manufacture technologies in India for India and the world that will enhance access to quality healthcare at affordable costs to more people. For our latest news, please visit http://newsroom.gehealthcare.com.
GE Healthcare has committed US $1 Billion towards accelerating research and development of advanced oncology solutions. GE Healthcare offers a wide portfolio for oncology and a strategy that combines cellular research, medical imaging, laboratory diagnostics, biopharmaceutical manufacturing technologies, and information technology. These innovative technologies help the oncology community increase their understanding of the causes and progression of cancer and help physicians make more personalized cancer treatment and management decisions.
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