GE Healthcare has been in a collaborative mood as of late, striking partnerships with Amazon Web Services, Optellum, Sophia Genetics, the University of Cambridge and more in just the last six months, all with a goal of improving various facets of clinical care.
The medtech giant’s latest team-up—and its first of 2022—will see it joining forces with another powerhouse in the field with the aim of upgrading cardiac care in the Southeast Asia region: Boston Scientific.
GE will contribute its imaging software in the partnership, while Boston Scientific will offer up its heart-focused medical devices. Together, these offerings will give healthcare providers in the region access to more advanced tools to improve every step of cardiac care, from diagnosis to interventional treatments.
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The partnership is the first for GE and Boston Scientific in Southeast Asia. The companies are targeting the high number of deaths from cardiovascular disease in the region, an issue exacerbated by its vast diversity in terms of culture, socioeconomics and access to reliable healthcare services.
“Bridging the industry gap in providing an end-to-end cardiac care center for healthcare providers, this partnership will see the integration of cardiac care solutions, from cath labs to intravascular ultrasound, serving as a comprehensive portfolio for heart surgeons,” said Chris Khang, president and CEO of GE Healthcare’s Southeast Asia business.
“These solutions will be crucial in unlocking the potential of interventional cardiology and is a step forward in delivering precision health to the region,” Khang said.
GE Healthcare has long had a presence in Southeast Asia and has established many partnerships over the years to upgrade clinical care there. In 2014, for example, it teamed up with Singapore’s Agency for Science, Technology and Research, or A*STAR, on a five-year project to develop new medical technologies to address the growing prevalence of chronic disease and cancer as life expectancy lengthens.
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The joint effort with Boston Scientific and spate of other clinical partnerships come as GE’s healthcare business gears up to become its own standalone company.
After the spinoff is complete—with a target date of early 2023—GE Healthcare will be an independent entity. GE, which is also planning to spin out its renewable energy, power and digital divisions into another separate company in 2024, will retain a stake of just under 20% in the resulting healthcare company.
Even after stepping out from under the umbrella of the century-old industrial behemoth, GE Healthcare will remain a major player in the medtech industry. To wit: In 2020, the healthcare division was solely responsible for bringing in $18 billion of GE’s total $80 billion in global revenue.