Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / GE to push low-cost healthcare systems in rural markets
BackBack

GE to push low-cost healthcare systems in rural markets

GE to push low-cost healthcare systems in rural markets

Healthy imagination: Tejpreet S. Chopra, outgoing president and chief executive officer of GE India, Bangladesh and Sri Lanka. Rajkumar / MintPremium

Healthy imagination: Tejpreet S. Chopra, outgoing president and chief executive officer of GE India, Bangladesh and Sri Lanka. Rajkumar / Mint

New Delhi: As part of its “healthy imagination global initiative", General Electric Co., or GE, will roll out stripped-down versions of healthcare systems for the rural Indian market. The project will see GE India spending $6 billion (Rs28,080 crore now) over the next five years.

Also See Mint’s coverage of the WEF India Summit

“We have developed a mobile ECG (electrocardiogram) device for less than $1,000, against the existing cost of $15,000, which means that a patient in rural India can avail of an ECG for less than Rs50 against the several thousand rupees he will need to spend for an ECG in a big city," says Tejpreet S. Chopra, outgoing president and chief executive officer of GE India, Bangladesh and Sri Lanka.

Healthy imagination: Tejpreet S. Chopra, outgoing president and chief executive officer of GE India, Bangladesh and Sri Lanka. Rajkumar / Mint

Of the total spending for the healthy imagination initiative, Chopra discloses that half, or $3 billion, has been earmarked for developing and producing value products for rural areas in India and across the globe. “Another $2 billion will be used for healthcare IT (information technology) and rural financing, while the remaining $1 billion will be utilized to improve healthcare awareness," he says.

GE, which last year achieved revenue of $2.6 billion from its Indian operations, will soon also see a change of guard at the top, with John Flannery coming in to replace Chopra, who’s likely to head for a posting at GE’s corporate headquarters in Connecticut, US, after he demits office at the end of the current fiscal year. The move is aimed at consolidating the company’s several business interests—which include aviation, lighting, finance and media—into one team with an integrated strategy.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 08 Nov 2009, 09:53 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie