|2013 med tech R&D budget:||$1 billion|
|Change from 2012 budget:||not available|
|Percent of segment revenues ($18.2 billion):||5.5%|
GE ($GE) doesn't disclose its R&D budget by division in its annual report, but a company spokesman told FierceMedicalDevices that the healthcare arm spent $1 billion on R&D last year. Brain disease, cloud computing and laboratory research and research equipment are some of the company's biggest focuses.
The company says it plans to invest $500 million into researching neurological disorders between 2010 and 2020. Commitments include the $60 million Head Health Initiative in partnership with apparel company Under Armour and the NFL. In addition, the company recently began rolling out Vizamyl, an imaging agent designed to spotlight Alzheimer's-tied buildups in positron emission tomography (PET) scans, which could become a companion diagnostic down the road.
The company aims to enhance its imaging products by making their images available online using cloud computing and has a partnership with the University of Pittsburgh Medical Center "to improve the way providers archive, access and interpret MRIs, [computed tomography] scans and other imaging modalities," according to the annual report.
In March the company finalized its acquisition of Thermo Fisher's ($TMO) cell culture, gene modulation and magnetic beads businesses for $1.1 billion, demonstrating the company's focus on internal research and laboratory tools. Cancer diagnostics arm Clarient is developing companion diagnostics as well as the MultiOmyx hardware and software platform, enabling pathologists to better visualize tumors for prognosis and diagnosis.
GE Healthcare is investing heavily in India. This year it announced it is jointly investing $120 million to open 25 cancer clinics in the country. It also inked a three-year research and development deal with the Healthcare Technology Innovation Centre in Chennai, India, to concoct devices and treatment tools. And with the help of Indian healthcare providers, the company developed a low-cost PET-CT device designed to measure a patient's response to cancer treatment.
While expanding in imaging and cancer, GE Healthcare has sold off other businesses, such as its sleep apnea and respiratory ventilators division.
The unit's R&D budget accounted for nearly 20% of GE's total R&D spending of $4.75 billion, which was led by the aviation division. -- Varun Saxena (email | Twitter)
- here's GE Healthcare's 2013 annual report
Special Report: The top companies in med tech: 2013 revenue results
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