GE’s Healthymagination (NYSE:GE)

In one of the surprising news on Thursday, General Electric Company (NYSE:GE) has decided to launch a new US$250 million venture fund as an investment in new life sciences technologies along with Eli Lilly that will work on new cancer research. The new fund will be called as GE Healthymagination Fund and it will make investments in promising healthcare technology companies. The fund will directly help healthcare companies to support their innovative diagnostic, IT and other strategic objectives. Additionally the fund will also support healthcare companies to come up with innovative and unique business models and services.

GE Healthcare which is a unit of General Electric Company employs more than thousands of healthcare professionals and experts across 100 different countries and will also be a part of this new initiative. Currently, GE Healthcare provides transformational medical technologies and services that set new standards in patient care. The company has been into many healthcare technologies, medical diagnostics, patient monitoring systems, and drug discovery. The formation of this fund is a global commitment on the part of GE to provide better medical facilities to people across the globe at lower cost.

GE Healthymagination fund will mostly target few specific areas like broad-based diagnostics where GE can invest into home health, imaging, patient monitoring, pathology and other technologies related to disease diagnosis. The fund will also invest in healthcare information technology including electronic medical records, healthcare information exchange, and other value added services related to healthcare of individuals. Life sciences is another target area where the investment from the fund will be made including tools for research and development in stem cells and biopharmaceuticals, and other technologies for the manufacturing of biopharmaceuticals and vaccines.

GE’s Healthymagination fund will provide GE an opportunity to work with emerging healthcare companies and to support their development at the same time