Intel and GE have entered into a definitive agreement to form a 50/50 joint venture to create a new healthcare company focused on telehealth and independent living.
The new company will be formed by combining assets of GE Healthcare’s Home Health division and Intel’s Digital Health Group, and will be owned equally by GE and Intel. Pending regulatory and other customary closing conditions, the joint venture is expected to become operational by the end of the year. Financial terms were not disclosed.
The venture builds on the GE-Intel healthcare alliance announced in April 2009 around independent living and chronic disease management. GE and Intel execs say the companies share a common vision to use technology to bring more effective healthcare into millions of homes and to improve the lives of seniors and people with chronic conditions.
