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Colleagues,

As reported in the Silicon Valley Business Journal .... Intel Corp. and General Electric Co. said today they agreed to a 50/50 joint venture to create a new health care company...

...Santa Clara, California-based Intel and Fairfield, Connecticut.-based GE said the company will be formed by combining assets of GE Healthcare’s Home Health division and Intel’s Digital Health Group, and will be owned equally by GE and Intel...

Courtesy photo: Louis Burns, vice president and general manager of Intel's Digital Health Group, and Omar Ishrak, senior vice president of GE and president and CEO of GE Healthcare Systems

...Pending regulatory and other customary closing conditions, the joint venture is expected to become operational by the end of the year. Financial terms were not disclosed...

...The venture builds on the GE-Intel health care alliance announced in April 2009 around independent living and chronic disease management...Once formed, the new company will develop and market products, services and technologies that promote healthy, independent living at home and in assisted living communities...

... The new company will be based in the Sacramento, California area. Louis Burns, currently vice president and general manager of Intel’s Digital Health Group, will be CEO of the new company, and Omar Ishrak, senior vice president of GE and president and CEO, GE Healthcare Systems, will be chairman of the board...

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