GE Healthcare to create joint venture with Qatar Foundation

Colleagues,

As reported in The Business Journal serving greater Milwaulkee ... GE Healthcare, a unit of General Electric, has agreed to set up a joint venture with Qatar Foundation that would focus on developing health care technologies and establishing local research and development capabilities, including in the area of molecular imaging. The partnership is expected to operate with a budget of more than $400 million over the first five years..

The partnership also will focus on the expansion of GE Healthcare and the Qatar Foundation’s information technology business in the Middle East and Africa through the creation of a joint venture. The joint venture will be the headquarters for GE’s Healthcare IT business in the Middle East and Africa. The company will be equally owned by GE Healthcare and the Qatar Foundation and will have a goal of achieving more than $200 million of annual revenues in the next five to seven years.

Read on at: http://www.bizjournals.com/milwaukee/stories/2009/03/16/daily17.html

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