GE (Fairfield, Conn.) and Intel Corporation (Santa Clara, Calif.) announced the launch of their Sacramento-based healthcare joint venture named Care Innovations LLC. Care Innovations will develop technologies that support healthy, independent living at home and in senior housing communities. The executive leadership team and board of managers are now in place to support the new company’s transition and future growth.
The formation of Care Innovations follows the success of the healthcare alliance between Intel and GE, announced April 2009. Care Innovations, which combines assets and the teams and operations of both GE Healthcare's Home Health division and Intel's Digital Health Group, has received final regulatory clearances and is now fully operational. The jointly owned company’s focus is to help address some of the largest issues facing society today, including the aging population, the growing number of people with chronic conditions, and increasing healthcare costs. The market segments for telehealth and home health monitoring are predicted to grow to an estimated $7.7 billion by 2012.
Care Innovations markets remote patient monitoring, independent living concepts and assistive technologies, such as the Intel Health Guide, Intel Reader and GE QuietCare. The company is also continuing to develop healthcare IT innovations which will help enable healthcare providers to drive toward lower costs and a higher quality of life for patients worldwide.