GE has created a $250 million equity investment fund, called Healthymagination, to put money into promising healthcare technology companies.
The new fund could be a source for Orange County ventures in medical and technology, which is one of the strong venture-backed sectors locally.
Healthymagination is part of GE’s $6 billion global commitment to deliver better healthcare to more people at a lower cost. The fund will look for innovative technology the would be compatible with the strategic objectives of GE Healthcare.
The fund will consider three broad areas:
Broad-based diagnostics, including imaging, home health, patient monitoring, molecular diagnostics, pathology, novel imaging agents and other technologies for disease diagnosis.
Healthcare information technology, including electronic medical records, clinical information systems, healthcare information exchanges and value-added data services.
Life sciences, including tools for research and development in biopharmaceuticals and stem cells, and technologies for manufacturing of biopharmaceuticals and vaccines.
“As GE works on solutions to healthcare’s biggest challenges, it is vitally important that we support the development of companies with promising technologies or business models that are aligned with our strategy and have the potential to shape the future of healthcare,” said GE Chairman and CEO Jeffrey Immelt. “This includes smarter processes and technologies that measurably increase access to healthcare, reduce the cost of delivery and improve quality.”
Click here for more information or to submit a proposal. GE says it will only respond if the concept is a promising fit.