The market for home healthcare devices is growing quickly, and Intel and General Electric want in on the action. The two companies announced Thursday that they will jointly invest $250 million over the next five years toward the development of such products.
Both companies already have ventured into the healthcare market. Intel has been making healthcare products since 2005, and even created the Intel Health Guide to monitor vital signs and help physicians and patients stay in contact via the Internet. GE's Quiet Care system helps patients to monitor their vital signs remotely.
Intel CEO Paul Otellini and GE CEO Jeffrey Immelt believe that the healthcare-device market will grow from $3 billion this year to $7.7 billion by 2012. This venture will be one of "four or five big bets" outside of PCs for Intel, according to Otellini.
To learn more about this joint venture:
- here's the Associated Press article