GE and Intel have announced that they've entered into a definitive agreement to form a 50/50 joint venture to create a new healthcare company focused on telehealth and independent living.
The joint venture will combine assets of GE Healthcare's Home Health division with Intel's Digital Health Group, with both companies owning an equal share. Once formed, the new company will focus on developing and marketing products, services, and technologies focused on healthy, independent living at home and in assisted living communities around the globe.
"New models of care delivery are required to address some of the largest issues facing society today, including our aging population, increasing healthcare costs and a large number of people living with chronic conditions," said Intel President and CEO Paul Otellini. "We must rethink models of care that go beyond hospital and clinic visits, to home and community-based care models that allow for prevention, early detection, behavior change and social support. The creation of this new company is aimed at accelerating just that."
Pending regulatory and otehr customary closing conditions, the two sides hope to have the joint venture completed by the end of the year.
Image Credit: Intel