GE Healthcare Funds IT and Diagnostics Companies – Really? How?

On the face of it this announcement could be really good news for us.

At a time when venture capital has, as usual, made the wrong choice -locking it’s coffers when opportunity for healthcare innovation is exploding, the fact GE wants to help fund new technology is encouraging.

But I wonder how anybody gets to benefit? We’ve tried to talk to the company about potential collaboration between us and gotten the cold shoulder. According to it’s web site GE Healthcare won’t discuss new ideas with anybody unless it’s allowed to do whatever it likes with those ideas. Anybody wanting to retain IPR can’t talk to GE.

We approached GE asking who we could talk to, only to be told to submit the form. Even though we filled in the form, nobody came back to us.

That might be understandable, if ill mannered, in lots of cases.

But GE is the market leader in patient monitoring devices. Our research, led by eminent clinicians and funded by the EU, will result in a paradigm shift in the value of patient monitoring. Improved patient outcomes at lower healthcare costs will be the result. But GE won’t talk to us.

C’mon GE – talk to us!

GE launches $250 million health care tech fund

NEW YORK β€” GE Healthcare said Wednesday it plans to expand a cancer research partnership with Eli Lilly & Co. designed to target drugs more precisely and speed clinical trials

The unit of General Electric Co. also said it will set aside $250 million for investments in partnerships with health care information technology and diagnostics companies.

Additionally, the company said it purchased certain assets of MRI (magnetic resonance imaging) scanner maker ONI Medical Systems Inc. for undisclosed terms. ONI, based in Wilmington, Mass., is privately held.

GE and Eli Lilly announced the health care initiatives in New York.

GE of Fairfield, Conn., said it plans to rework its employee health care plan to emphasize preventative care, the first such changes to the plan in more than 20 years.

The partnership with Eli Lilly of Indianapolis, is focused on scanning cancer cells to determine which drugs will and won’t work by reading proteins in tumors.

Lilly said the staining and scanning technology give a far more precise picture of the make up of the tumor. The companies hope to use the technology in clinical trials starting next summer, speeding up trials of drugs for breast, ovarian and lung tumors and potentially gastric tumors.

The technology has been tested on prostate and colon cancer so far but not used on clinical studies.

GE said it would offer the technology to other biotech companies later.

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One Response to GE Healthcare Funds IT and Diagnostics Companies – Really? How?

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