GE Healthcare, the $17-billion healthcare unit of GE, will be investing $50 million in India over the next three years to develop a portfolio of low Cost diagnostic imaging products.
The healthcare major expects to roll out 9-10 indigenously designed diagnostic equipment annually that includes CT systems, molecular imaging systems, baby warmers and biological diagnostics for the Indian market.
"We are developing a portfolio for biological diagnostics in India," said president and CEO of GE Healthcare, who was in Bangalore on Thursday. Biological diagnostics combines the power of functional scanning with biological tracers to help clinicians to detect and diagnose diseases earlier and evaluate treatment efficacy quickly.
GE Healthcare may hire another 1,000 engineers in India in the next few years to keep pace with its growth plans here. It currently has 1,200. "We are growing at a CAGR of 30% in India and will be able to sustain it though 2015," said. The company expects revenue of $400 million in 2011, up from $300 mn last year.
GE wants to develop affordable cardiac care solutions, given that Indians are more susceptible to heart ailments compared to other populations. According to WHO estimates, close to 60% of cardiac patients worldwide will be from India by 2020.
In a bid to make cardiac care affordable, GE Healthcare on Thursday unveiled two products - GE Healthcare MAC 600 and GE VIVID P3 ultrasound system – designed and developed by its India facility.
GE VIVID P3 is a cardiac imaging ultrasound system that provides for efficient data management and transfer of images. It is priced at Rs 11-12 lakhs, 50% lower than other similar FDA-approved products, the company said.
GE Healthcare has seven manufacturing units in India and is close to finalizing the eighth plant.
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