GE Launches ‘Healthymagination’; Will Commit $6 Billion to Enable Better Health Focusing on Cost, Access and Quality

WASHINGTON--07 May 2009-- GE announced today that it will spend $3 billion over the next six years on healthcare innovation that will help deliver better care to more people at lower cost. In addition, the company will commit $2 billion of financing and $1 billion in related GE technology and content to drive healthcare information technology and health in rural and underserved areas. These investments are the foundation of GE’s healthymagination initiative, which is built on the global commitments of reducing costs, improving quality and expanding access for millions of people.

Under healthymagination, by 2015 GE will:

Invest $3 billion in research and development to launch at least 100 innovations that lower cost, increase access and improve quality by 15 percent. GE will also apply its expertise in services and its suite of performance improvement tools for impact in these areas. These actions will strengthen GE Healthcare’s business model.
Work with partners to focus innovations on four critical needs to start: accelerating healthcare information technology; target high-tech products to more affordable price points; broaden access to the underserved; and support consumer-driven health.
Expand its employee health efforts by creating new wellness and healthy worksite programs while keeping cost increases below the rate of inflation.
Increase the “value gap” between its health spend and GE Healthcare’s earnings to drive new value for GE shareholders.
Engage and report on its progress. GE will engage experts and leaders on policy and programs and create a GE Health Advisory Board, which will include former U.S. senators Bill Frist and Tom Daschle and other global healthcare leaders.

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