GE and Intel Corporation are joining together to market and develop home-based health technologies designed for seniors and patients with chronic conditions. GE Chairman and CEO Jeff Immelt and Intel President and CEO Paul Otellini announced the alliance today, along with an investment of more than $250 million over the next five years for research and product development of home-based health technologies.GE and Intel Corporation are joining together to market and develop home-based health technologies designed for seniors and patients with chronic conditions. GE Chairman and CEO Jeff Immelt and Intel President and CEO Paul Otellini announced the alliance today, along with an investment of more than $250 million over the next five years for research and product development of home-based health technologies.
Home free: GE Healthcare’s QuietCare system, as seen in this video, is a technology that GE has already deployed. The system transforms eldercare with advanced motion sensor technology that sends alerts to caregivers about changes that may signal potential health issues or emergency situations such as a fall or an emerging health problem. It is used primarily in assisted living facilities across the United States.
The opportunities for the new alliance are immense, as the market for telehealth and home health monitoring is predicted to grow from $3 billion in 2009 to an estimated $7.7 billion by 2012. In the United States the Federal Interagency Forum on Aging-Related Statistics estimates that by 2030, approximately 71.5 million people will be 65 and older, representing nearly 20 percent of the total U.S. population –- up from 37 million Americans in 2006.
As part of the partnership, GE Healthcare and Intel will work together to accelerate the innovation and commercialization of next-generation home health technologies. GE and Intel also plan to expand their current programs to include new areas such as fall prevention, medication compliance, sleep apnea, cardiovascular disease, diabetes and personal wellness monitoring. GE Healthcare will also sell and market the Intel Health Guide, which combines an in-home patient device with an online interface to allows doctors to monitor and manage care remotely.
“Improving healthcare accessibility and reducing costs are essential to economic recovery and growth,” Jeff said. “We think this partnership offers the potential to lower costs by keeping people out of hospitals while giving health professionals the data they need to deliver the best possible care. Intel and GE share a vision to use technology to bring effective healthcare into millions of homes and to improve the lives of seniors and people with chronic illness. Together we can deliver innovative products to serve this rapidly growing market.”
* Read the announcement
* Learn more about GE’s QuietCare system
* View a webcast of today’s press conference
* Read The Wall Street Journal’s story
* Watch CNBC’s interview with Jeff Immelt
