*Exclusive agreement with Phoenix Medical Systems
*Exclusive distribution agreement with SLE, UK.
*Agreements aim at broadening capabilities in growing Maternal Infant Care (MIC) segment
*GE Healthcare to produce 15,000 units and turnover USD 30 Million by 2010 for MIC products in India
New Delhi, September 26, 2007 --- GE Healthcare, the US$17 billion complete healthcare and life sciences solutions business of global major, General Electric Company (NYSE: GE), today announced two exclusive agreements to broaden its capabilities in the growing Maternal Infant Care (MIC) segment.
Each year globally, 529,000 mothers die in pregnancy or childbirth, 3.3 million babies are stillborn, and over 4 million newborns die within 28 days of birth, according to the WHO World Health Report 2006. GE Healthcare brings to market high quality, advanced technology MIC equipment and is a global leader in this segment. These two new agreements will expand GE's broad portfolio by offering a new, extensive range of value and economical products to meet the market's growing need.
The first agreement is an exclusive agreement with Phoenix Medical Systems Ltd, a leading value maternal-infant care products located in Chennai. According to the agreement, the parties will cooperate to manufacture and upgrade Phoenix' existing product line for export worldwide.
The product range includes infant warmers, incubators, phototherapy systems, maternal delivery beds and other infant care accessories. GE Healthcare forecasts approximately USD 30 million in sales of such products by 2010. GE Healthcare plans to roll out the phototherapy products by December 2007, and warmers by 1st quarter of 2008.
The powerful and convenient phototherapy systems are suitable for treatment of infant jaundice. The system is compact, flexible, cold and high intensity. The phototherapy systems combine exceptional convenience, performance and safety to provide the total package in phototherapy.
The neonatal warmers are designed specifically for a warm reception to the newborns right at the stage of labor and delivery. The warmers provide quick heat-up and ensure good thermoregulation, so the doctor can deliver the best care possible to their patients.
Mr. V. Raja, CEO and President, GE Healthcare, South East Asia, said, "In India, one woman dies every five minutes from a pregnancy-related cause in India . By providing innovative and technologically advanced maternal infant care solutions, GE Healthcare aims to support physicians arrest this alarming mortality rate and complications."
The second agreement is an exclusive distribution agreement signed with SLE, UK in India. SLE is a leader in neonatal ventilation, high frequency oscillator technology, and Nitric oxide therapy. This distribution agreement further expands GE Healthcare's maternal infant care offerings and an unmatched portfolio in neonatal care.
From an expectant mother's first visit to her OB office, to the days after mother and baby leave the hospital, GE's combined offering assists healthcare professionals in supporting the specialized needs of patients and families across the entire maternal-infant continuum. The product range includes ultrasound systems, infant warmers, incubators, phototherapy systems, ventilators, neonatal monitoring systems, clinical information systems and ancilliary equipments.
Mr. Ganesh Prasad, Vice President, Clinical Systems, GE Healthcare, South East Asia, said "Inspired by our customers and learning from our partners worldwide, we strive to create simplified, clinically relevant, globally appropriate maternal-infant care solutions that support life from its earliest moments."
In commenting on the agreements, Prasad added: "Phoenix and SLE are excellent companies with a strong track record of innovation and a product range that is highly complementary with our existing Maternal Infant Care business. The combination of GE Healthcare and Phoenix products will allow us to expand our business and support even the smallest maternity centres with the new value-range products.
"Developing countries such as India need a mix of high end technologies and economical products to cater for all. There is a tremendous need for affordable maternal infant care products, especially in small towns and small centres. With these new relationships, GE now has access to the broadest range of infant care products that can address the needs of the smallest of clinics to a large, specialized hospital. The Indian market for phototherapy and warmers offers a huge potential for growth."
"We are very excited to sign this agreement with GE Healthcare, which already offers a broad range of technologies and services to the maternal infant care segment" said Mr. V Sashi Kumar, Head of Phoenix Medical Systems. "Our customers will benefit greatly from the global presence and the R&D resources that GE Healthcare brings to the table."
"Phoenix Medical Systems maternal infant care products are well received by many neonatal intensive care units in major hospitals across India. The company's proven technology is suited to all developing markets," Mr. Kumar continued.
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform, treat and monitor disease, so patients can live their lives to the fullest.
GE Healthcare's broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases and other conditions earlier. Our vision for the future is to enable a new "early health" model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a USD 17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.
Established in 1989, Phoenix is the pioneer and leading manufacturer of quality neonatal care equipment in India. The Phoenix range of products is trusted in hospitals worldwide today. Phoenix is an ISO 9000:2001 certified company and has a wide customer base all over the world. Some of their Products are FDA approved.
SLE was founded in 1956, and has a stable history of providing healthcare professionals with specialized medical equipment that makes a difference. SLE is the leader in neonatal ventilation products, a very highly specialized area and SLE is the only company to concentrate on this niche area.
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