The General Electric-Intel joint telehealth venture focusing on improving care and cost issues for, among others, seniors and those with chronic conditions officially launched this week under the moniker "Care Innovations," the companies announced in a press release Monday.
As we have been reporting for nearly two years, both companies realized just how lucrative the home healthcare device market can become--with estimates as high as $7.7 billion by 2012--and wanted a piece of the action. Now, after clearing the last few regulatory hurdles, their telehealth alliance, announced last August, has come to fruition.
Intel CEO Paul Otellini said in a statement then that he believes the venture will help move to models of care "beyond hospital and clinic visits, to home and community-based care models." Louis Burns, CEO for the newly created company, agrees.
"Our vision, as we launch this exciting new company is for Care Innovations to positively affect millions of people by providing innovative products and services that will enable new models of care," Burns said, according to the press release.
Intel's Health Guide, the Intel Reader and GE's QuietCare are among the main products that now will be touted by the new company, reports Healthcare IT News. The Health Guide helps doctors and their patients with cable/DSL and cell phone communication efforts, while the Intel Reader reads text aloud for patients who have trouble seeing. QuietCare uses wireless sensors to help care for elderly patients.