GE Healthcare have announced the creation of a new business unit, Sustainable Healthcare Solutions (SHS), that will develop high-value, low-cost technologies and healthcare delivery solutions across multiple care settings.
The new organization will invest $300 million as part of a multi-phase effort to develop a more robust affordable healthcare portfolio for customers. The unit will combine GE Healthcare’s operations in India, South Asia, Africa and Southeast Asia.
With the vision to improve access to quality and affordable health around the world, SHS will work with governments, clinicians, private operators and NGOs to deliver value-based solutions aimed at improving outcomes for health systems and patients.
“Much of the world’s population is without adequate healthcare, and innovations that can create better patient outcomes in a sustainable way are urgently needed,” said John Flannery, President and CEO of GE Healthcare. “Many emerging economies are looking for experienced partners to help build skills, capacity and effective healthcare solutions for their patients.”
GE Healthcare has a long track record in developing innovations for emerging markets. For example, its handheld ultrasound device Vscan Access+ and Lullaby+ infant warmer are improving outcomes in remote rural settings in maternal infant care, a major focus area for many emerging markets. The low-cost healthcare equipment sector alone is now estimated to be worth over $8 billion and growing significantly as developing countries continue to invest in effective, long-term healthcare solutions to improve the health of their populations.
“SHS will leverage GE’s Fastworks methodology to accelerate, test and rapidly commercialize relevant, affordable technologies. By taking this ‘start-up’ model approach we can rapidly test new ideas, products and services to maximize effectiveness for customers before we scale up,” said Terri Bresenham, President and CEO of GE Healthcare’s Sustainable Healthcare Solutions unit. “From basic primary care delivery through to more complex, structural healthcare challenges, SHS will aim to combine GE Healthcare’s capabilities and scale with the local know-how and expertise of our partners across Africa, Southeast Asia, India and South Asia. “