GE to invest $25 mn in special medical lab

GE to invest $25 mn in special medical lab
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First Published: Thu, Mar 26 2009. 11 43 PM IST
Updated: Thu, Mar 26 2009. 11 43 PM IST
Bangalore: In its attempt to make India a strategic centre for its global healthcare equipment market, GE Healthcare, the medical devices unit of General Electric Co., or GE, said on Thursday it is investing $25 million (around Rs126 crore) in a special laboratory in Bangalore that would simulate the complete environment of a hospital to test new products.
“This would allow more next generation products to be developed and tested, particularly for India,” said John Dineen, president and chief executive of GE Healthcare, who is on his first visit to India after he assumed office in July. The lab is part of a new “green” centre that has cost GE an additional $50 million.
Dineen said the company viewed India as a strategic market. “We are here not to serve the market, but to build it.” He is looking at doubling the revenue from India to $1 billion in three to five years.
The company believes a lot more technology developed at Bangalore will be exported to the developed markets in the near future. Omar Ishrak, president and chief executive of GE Healthcare Systems, said a new electrocardiogram system called Mac 400, developed for the Indian market, was launched in the US last week as Mac 800.
In another strategic move, GE Healthcare is entering the home healthcare market in India with the introduction of sleep care and home respiratory system. On Tuesday it announced acquisition of a Swedish medical product manufacturer Vital Signs Inc., in the home health care segment.
“It is a strong, strategic fit and allows us to address the individual patient directly, for the first time,” said V. Raja, president and chief executive, GE Healthcare South Asia.
Interestingly, its competitor, Philips Electronics India Ltd, announced its entry into India’s home healthcare market on 20 March with products in the same two categories.
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First Published: Thu, Mar 26 2009. 11 43 PM IST