Microsoft and General Electric Develop Venture to Compete in Healthcare IT
Microsoft Corporation (NASDAQ:MSFT): General Electric, through its healthcare IT business, and Microsoft announced several developments for their planned 50-50 joint venture, including the intention to demonstrate future product capabilities at HIMSS12, the year’s largest healthcare IT trade show, later this month. The new company, to be named Caradigm, is expected to launch in 1H of 2012, pending regulatory approvals and customary closing conditions. Caradigm will be aimed at driving a paradigm shift in the delivery of care by enabling health systems and professionals to use real-time, systemwide intelligence to improve healthcare quality and the patient experience. Upon formation, the new company will develop and market an open, interoperable technology platform and collaborative clinical applications focused on enabling better population health management to improve outcomes and the economics of health and wellness.
General Electric Company (NYSE:GE): GE Aviation’s production rates are expected to grow from approximately 3,000 commercial and military engine deliveries in 2011 to 3,400 deliveries in 2012, and 3,800 deliveries in 2013. To gear up for this delivery growth as well as expanded product offerings, GE Aviation will invest approximately $580M in plant, equipment, and tooling during the 2011-2012 time frame across its network of 55 U.S. operations. Also, GE Capital, Equipment Finance announces an extension of its 40+ year vendor financing relationship with Bobcat Company. In addition, GE Capital is launching a new vendor financing program for Doosan-branded heavy industrial equipment starting this month. The entities are part of Doosan Infracore Construction Equipment.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.
To contact the reporter on this story: Derek Hoffman at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com