*Launches two 'healthymagination' innovations from India focusing on maternal & infant care.
*Plans to set-up expert panel of 'GE Health Advisory Boards'
Bangalore, India, May 08, 2009 -- GE Healthcare, the USD 17 billion healthcare business of General Electric Company (NYSE: GE), today announced its new 'Healthymagination' initiative for the India market. The initiative is part of GE's business strategy to deliver and maintain sustainable healthcare globally, built on the core commitments of reducing costs and improving quality and access in healthcare. GE will spend $3 billion over the next six years on research and development that help deliver better care to more people at lower cost. In addition, GE will commit $2 billion of financing over the next six years to drive healthcare information technology and health in rural and underserved areas, plus $1 billion for partnerships, content and services. In total, GE will spend globally over USD 6 billion in six years on this initiative.
"The Indian healthcare industry is in transition and needs substantial investment to build new models of healthcare systems. The increase in healthcare costs required to maintain good standards cannot be sustained. Healthymagination, based on improving quality & access, at reduced cost, is what GE believes is required to accelerate this transition," said TP Chopra, President & CEO, GE India.
As part of its new healthymagination initiative, GE will launch at least 100 innovations that will lower cost, increase access and improve quality of healthcare by 15 percent. GE Healthcare India announced today 2 new Indian innovations in line with GE's healthymagination commitment.
GE's Lullaby Baby Warmer, designed in Bangalore for use in developing nations, helps reduce infant deaths from hypothermia and asphyxia. It provides newborns with vital overhead heat and improves access to care through easy-to-use technology. According to the WHO, at least 50% of global births occur in underserved urban settings where access to affordable technology remains limited
When a baby is born from a controlled environment of the uterus, their body temperature drops quickly and they need help from a secondary device to help keep them warm, while also not overheating them. They don't have the physiological mechanisms to fight off cold. The availability of warmth is the first line to life! An infant warmer is a bed (like a bassinet) with an overhead heater above the infant, showering delicate warmth over the newborn while the baby is being bathed after birth and having its first vital statistics taken.
Infant mortality is 56.72 for every 1000 babies born in India. Some 12 lakh infants die during the first month of life which is one fourth of the global number. Every minute a mother dies in India, which is otherwise preventable.25% of the world's childbirth happens in India yet it is one of the most neglected care areas.
GE's Lullaby Warmer improves access to care in the urban and semi-urban settings, with an affordable and easy to use infant warmer system and resuscitation (airway management, suction, etc) option. The Lullaby Warmer will be priced to reduce infant warmer acquisition costs for hospitals in developing nations by up to 70% of the average price of current imported warmers available in that marketplace.
The Lullaby Warmer will also meet the applicable international quality standards of the International Electro-technical Commission (IEC). GE's Lullaby product line will have an impact on helping reduce the number of deaths immediately after birth by providing warmth for newborns and resuscitation needs for those that experience birth trauma.
LOGIQ P3, the second product launched today, is a simple to use yet powerful ultrasound imaging system that can help clinicians deliver advanced imaging in multiple care areas from radiology to Obstetrician/Gynecology practices. It is designed and developed in Bangalore for global markets by leveraging ultrasound technology from GE's leadership platform. LOGIQ P3 incorporates technology that delivers high resolution clinical images and sensitive color flow for advanced imaging. Its lightweight and ergonomic design is small enough to easily maneuver to exam rooms and its robust workflow capabilities also help clinicians meet emerging digital information requirements for healthcare providers. LOGIQ P3 provides improved affordability by 20% over the existing systems. Its smaller footprint, high throughput helps in providing higher capabilities at lesser cost.
The Indian market has a two-fold challenge of Affordability & Access, and India needs two approaches to meet the challenges -- cost effective solutions for addressing the rural areas and high end technology on par with developed world for urban areas. "Our focus is to bring technology to the bedside of the patient and to fit the pocket size of the patient. With the 'Healthymagination' initiative, more people will have access to quality healthcare at lower cost (lower-cost procedures) and more people in rural and small towns will have access to healthcare in a way they could not before." Mr. V Raja, President & CEO, GE Healthcare South Asia.
As part of GE's commitment to transparency, partnership and engagement, GE announces the formation of a Global Health Advisory Board. Members of the GE Health Advisory Board will advise GE on its health efforts, investments and policy and will participate in regular public reporting on GE's performance. Thought leaders who will participate on the GE Health Advisory Board include:
This is a global board and a similar expert panel will be set up in India with Indian experts.
Maternal & Infant and Cardiac care a huge focus area for GE in India.
Infant mortality is 47.8 for every 1000 babies born in India. Some 12 lakh infants die during the first month of life which is one fourth of the global number. Every minute a mother dies in India, which is otherwise preventable. 25% of the world's childbirths happen in India yet it is one of the most neglected care areas. 419 maternal deaths/lakh delivery in India.
"We would like to use this as an opportunity to partner with Indian industry bodies, Government and other thought leaders to provide a platform for accessible healthcare solutions in India. We believe that our society can benefit from healthymagination and we will make a business by doing it too", said Mr. V Raja.
About GE
GE (NYSE: GE) is an innovative and diversified technology company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, healthcare, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems.
Our "healthymagination" vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality and efficiency around the world. Headquartered in the United Kingdom, GE Healthcare is a $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.
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