GE Healthcare to Buy Indian Medical Companies

General Electric’s Healthcare business, GE Healthcare, is planning to buy and provide seed capital to Indian medical device companies. 

The $17 billion company is looking at purchasing companies that either possess low-cost solutions or use unique technology.

GE would target diagnostic equipment manufacturers in the local market that will help expand its rural network.

The healthcare giant also plans to provide seed capital to Indian medical companies and pick up a majority stake in them.

The company expects a big chunk of its growth to come from the expansion of its imaging and infant care products. The company expects its sales to boost to 50 percent of its revenue by 2010.

GE launched its first fully digital X-Ray system, Tejas DR-F, in India. The X-Ray system, expected to cost 40 percent less than imported digital machines, would be manufactured in India, and exported to Southeast Asia, Latin America, Russia, Eastern Europe and Africa.