Remote health care is set to become big business in the coming decade as baby boomers continue to age. Last August, GE and Intel announced a plan to team up on a 50-50 joint venture that will generate gadgets for the growing telehealth market. Now the initiative, dubbed GE Care Innovations, is going live. What will it look like?
According to Intel, the venture will focus on three main areas: chronic disease management, independent living, and assistive technologies. GE and Intel have, in fact, already started working on a number of telehealth innovations. Intel has developed the Health Guide (a personal telehealth system) and the Reader (a handheld reader that features large text), and GE is working on QuietCare (a remote monitoring system for the elderly).
And those products are just the beginning. Care Innovations estimates that
the telehealth and remote patient monitoring business will balloon from $3 billion in 2009 to $7.7 billion in 2012. That means there is plenty of room for innovation.
No word yet on Care Innovations’ first commercial product, but the initiative will be headquartered in Sacramento, California and led by CEO Louis Burns.