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GE health unit to focus on low-cost medical equipment
Colleagues,
As reported by Times Online ... General Electric became the latest big manufacturer forced to change course and make cheaper and simpler products to cope with the decline in purchasing power around the world...
... GE is moving billions of dollars in research funds away from developing high-specification medical equipment towards lower-cost technology. Over the next six years GE Healthcare will devote half its $1 billion R&D budget towards low-cost products designed for use in emerging markets and remote areas, up from only 15 per cent today, John Rice, GE’s vice-president, said..."We cannot continue to live in a world where healthcare costs go up 10 per cent per year. President Obama understands that.”
...GE revealed last month that profits from selling medical equipment had fallen by more than a fifth in the first quarter after a 9 per cent dip in revenue...while its rival Philips, the Dutch electronics group, saw earnings from selling medical equipment turn into losses...
Read on at: http://business.timesonline.co.uk/tol/business/industry_sectors/eng...
As reported by Times Online ... General Electric became the latest big manufacturer forced to change course and make cheaper and simpler products to cope with the decline in purchasing power around the world...
... GE is moving billions of dollars in research funds away from developing high-specification medical equipment towards lower-cost technology. Over the next six years GE Healthcare will devote half its $1 billion R&D budget towards low-cost products designed for use in emerging markets and remote areas, up from only 15 per cent today, John Rice, GE’s vice-president, said..."We cannot continue to live in a world where healthcare costs go up 10 per cent per year. President Obama understands that.”
...GE revealed last month that profits from selling medical equipment had fallen by more than a fifth in the first quarter after a 9 per cent dip in revenue...while its rival Philips, the Dutch electronics group, saw earnings from selling medical equipment turn into losses...
Read on at: http://business.timesonline.co.uk/tol/business/industry_sectors/eng...
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