GE Healthcare has invested $1 billion to set up an advanced research lab in Bangalore, India. The lab will be established at the John Welch Technology Centre in Whitefield, which covers an area of 50,000 ft2 to develop global products, reports Pharmabiz.
With this funding, the total investment in India by GE Healthcare for this fiscal has reached $3 billion. These investments are meant for the company’s new business model “Healthymagination.” This model focuses on low-cost and high-quality products which can be affordable for patients in the emerging markets.
The lab will focus on designing products that are developed in India for the global markets. The company has set a target of over 100 products in the medical devices and life sciences space including AKTA chromatography instruments, as some of these medical products have already hit the Indian market. Instruments include MAC 400, Lullaby Baby Warmers and the Tejas XR 6000 X-ray system.
“The objective of the company is to decrease cost, increase the access, enhance quality and patient safety,” says Ashish Shah, General Manager of Healthcare Technologies for GE.
“Globally, the effort has been to drive the healthcare business in the markets of India and China. The company has invested substantially even during tough times in both technology and human resources. We are working on various technologies in India covering ultrasound, X-rays, Computerized Axial Tomography (CAT) Scan, Magnetic Resonance Imaging (MRI) besides life sciences and surgical sciences,” says Shah.
GE Healthcare has workforce strength of 1,200 and is planning to add another 70 from areas of mechanical, electronics and software background.
“Attracting talent has been relevantly easy although we have set high standards in hiring. There will be a mix of fresh graduates and experienced personnel. The company will look for doubling its strength over the next five years,” says Shah.