GE Launches $250 Million Healthymagination Fund
News Oct 26, 2009
GE (NYSE: GE) announced today the formation of the “GE Healthymagination Fund”, a new equity fund that will make investments in highly promising healthcare technology companies. The fund will invest in companies globally that have innovative diagnostic, IT, and life sciences technologies aligned with the strategic objectives of GE’s Healthymagination initiative. The fund will also support healthcare companies developing innovative and unique business models and services.
The formation of the fund is part of GE’s $6 billion Healthymagination initiative, a global commitment to deliver better healthcare to more people at lower cost. The fund will target three broad areas for investment:
• Broad-based Diagnostics, including imaging, home health, patient monitoring, molecular diagnostics, pathology, novel imaging agents and other technologies for disease diagnosis.
• Healthcare Information Technology, including electronic medical records, clinical information systems, healthcare information exchanges and value-added data services.
• Life Sciences, including tools for research and development in biopharmaceuticals and stem cells, and technologies for manufacturing of biopharmaceuticals and vaccines.
The fund will draw on capabilities from across GE Healthcare, GE Capital and GE Global Research, and will have a global footprint.
“The creation of the GE Healthymagination Fund reaffirms our commitment to innovation in healthcare to bring better health to more people,” GE Chairman and CEO Jeffrey Immelt said. “As GE works on solutions to healthcare’s biggest challenges, it is vitally important that we support the development of companies with promising technologies or business models that are aligned with our strategy and have the potential to shape the future of healthcare. This includes smarter processes and technologies that measurably increase access to healthcare, reduce the cost of delivery and improve quality. The Healthymagination Fund gives us an opportunity to work with emerging companies to support their development, as well as provide them access to our technology base and our global presence.“
“GE is able to offer a unique proposition to promising healthcare companies,” Immelt said. “In addition to providing growth capital and investment expertise, through this fund we offer entrepreneurs the opportunity to work directly with a global leader in healthcare technology in areas of mutual interest.”