The Hindu Business Line : Key role for India in GE’s healthcare drive

Bangalore, May 8 General Electric’s just-unveiled $6-billion global healthcare drive, half of it to develop 100 low-cost medical technologies by 2015, will have a key role for India, top GE India officials said in Bangalore on Friday.

The India-specific numbers of ‘Healthymagination’, unveiled by GE’s boss Mr Jeff Immelt in the US on Thursday night, are not given out.

The executives told a news conference that the Indian R&D centre, with 1,100 engineers for healthcare alone, would be a key driver in the new strategy.

The John F.Welch Technology Centre in Bangalore is also the biggest lab for healthcare engineering. Nearly a dozen new technologies are expected to roll out of here in the next 18-24 months, an official said.

GE India’s President and Chief Executive Officer, Mr T.P. Chopra, said the figure was above the regular R&D spend of the medical equipment leader. GE aims to lower healthcare costs by 15 per cent through its new strategy, apart from widening the market and improving quality.

According to Mr Immelt’s US announcement, $3 billion (around Rs 15,000 crore) of the $6-billion investment over six years would be for bringing out new, low-cost medical diagnostic innovations, driven largely through the India and China centres. Another $2 billion (Rs 10,000 crore) will be provided through GE Capital towards financing hospitals to buy these new systems, healthcare information technology and to reach rural and remote markets. GE has set aside $1 billion (around Rs 5,000 crore) for partnerships, content and services.

The $17-billion medical equipment leader has formed a 200-member Global Health Advisory Board to help it identify the technology needs of its key markets like India.

Continuing investments

GE will continue to invest in the country across its sectors from energy to aerospace and the recent tax proposals of the US President should not affect its plans, according to GE India President & CEO, Mr Tejpreet Singh Chopra.

Mr Chopra said, “Investments will not be a problem. The company has big plans in India in energy, oil and gas, healthcare, aerospace and water purification. We will continue to focus on investments in India” across these businesses. The US President, he said, “has not said anything wrong” in his tax plans although one had to wait and see how the measures unfolded.

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