GE HealthCare, Sinopharm Unit Forming Joint Venture
February 24 2023 - 7:05AM
Dow Jones News
By Colin Kellaher
GE HealthCare Technologies Inc. on Friday said it agreed to form
a long-term joint venture with a unit of China National
Pharmaceutical Group Co., the state-owned group known as Sinopharm,
to develop, manufacture and commercialize medical equipment to
address the growing needs of China's healthcare market.
Chicago-based GE HealthCare said the venture initially plans to
provide non-premium CT and general imaging ultrasound solutions for
primary care and rural health, adding that the scope may be
expanded as the venture develops.
GE HealthCare, which completed its separation from former parent
General Electric Co. in January, already has a joint-venture
relationship with Sinopharm through GE Hangwei Medical Systems, a
medical equipment maker formed by General Electric and Sinopharm in
1991.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 24, 2023 06:50 ET (11:50 GMT)
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