50-50 joint venture will combine Microsoft's deep platform expertise with GE Healthcare's experience in clinical and administrative workflow solutions.
REDMOND, Wash. and BARRINGTON, Ill., Feb. 13, 2012 /PRNewswire/ -- General Electric Co. (GE), through its healthcare IT business, and Microsoft Corp. today announced several developments for their planned 50-50 joint venture, including the intention to demonstrate future product capabilities at HIMSS12, the year's largest healthcare IT trade show, later this month. The new company, to be named Caradigm™, is expected to launch in the first half of 2012, pending regulatory approvals and customary closing conditions.
Caradigm will be aimed at driving a paradigm shift in the delivery of care by enabling health systems and professionals to use real-time, systemwide intelligence to improve healthcare quality and the patient experience. Upon formation, the new company will develop and market an open, interoperable technology platform and collaborative clinical applications focused on enabling better population health management to improve outcomes and the economics of health and wellness.
Microsoft and GE Healthcare are also announcing several Caradigm leaders who will serve under CEO-designate Michael Simpson once the new company is formed. Named leaders are the following:
- Chief Medical Officer and Senior Vice President, Product Strategy: Dr. Brandon Savage, currently chief medical officer, GE Healthcare IT
- Chief Technology Officer and Senior Vice President, Engineering: Neal Singh, currently general manager of Microsoft Dynamics AX Global Financial Management
- Chief Operating Officer: Nigel Mason, currently director, GE Healthcare Commercial Centre of Excellence
- Chief People Officer: Tami Lamp, currently senior HR director, Microsoft
- General Counsel and Vice President: Warren Ratliff, currently chief counsel, GE Healthcare IT Knowledge & Connectivity Solutions
Caradigm's board of directors will include executives from GE Healthcare and Microsoft:
- John Dineen, president and CEO, GE Healthcare
- Jan de Witte, president and CEO, GE Healthcare IT and Performance Solutions
- Kirill Tatarinov, president, Microsoft Business Solutions Division
- Amy Hood, corporate vice president and CFO, Microsoft Business Division
"We have an exciting opportunity to transform healthcare globally with an established open platform and a new generation of applications focused on population health," Simpson said. "Around the world, delivery system reforms and payment model changes are requiring healthcare providers to integrate data across silos of care delivery to enable better care coordination and performance improvement. We're founding Caradigm to meet the changing needs of health and healthcare across the globe."
The two parent companies bring complementary expertise to this new venture and will contribute intellectual property, including the following:
- Microsoft Amalga, an enterprise health intelligence platform
- Microsoft Vergence, a single sign-on and context management solution
- Microsoft expreSSO, an enterprise single sign-on solution
- GE Healthcare eHealth, a Health Information Exchange
- GE Healthcare Qualibria, a clinical knowledge application environment being developed in cooperation with Intermountain Healthcare (Salt Lake City) and the Mayo Clinic
GE Healthcare and Microsoft intend to demonstrate future product capabilities that will be available from Caradigm at this month's HIMSS12 conference in Las Vegas. Demonstrations are being scheduled in both the GE Healthcare (No. 2635) and Microsoft (No. 1629) booths. In addition, Caradigm's future leadership team will host media and analysts on Tuesday, Feb. 21, from 6–7:30 p.m. in Room 101, Sands Expo Convention Center.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems.
Our "healthymagination" vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality around the world. Headquartered in the United Kingdom, GE Healthcare is a unit of General Electric Company. Worldwide, GE Healthcare employees are committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.
About Microsoft in Health
Microsoft is committed to improving health around the world through software innovation. Over the past 16 years, Microsoft has steadily increased its investments in health, with a focus on addressing the challenges of health providers, health and social services organizations, payers, consumers and life sciences companies worldwide. Microsoft closely collaborates with a broad ecosystem of partners and develops its own powerful health solutions, such as Microsoft Amalga and Microsoft HealthVault. Together, Microsoft and its industry partners are working to deliver health solutions that enable better health outcomes for more people.
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
For GE's latest news, please visit http://newsroom.gehealthcare.com. Follow GE on Twitter @GEHealthcareIT.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and we undertakes no obligation to update such statements.
SOURCE Microsoft Corp.