Companies to co-develop and distribute telecare and remote monitoring offerings
GE Healthcare, a unit of General Electric Company (NYSE:GE), announced today that it has entered into a distribution and technology collaboration agreement with Living Independently Group, Inc. a leading provider of telecare and passive monitoring systems used to assist in the care of seniors. GE Healthcare will distribute and co-market Living Independently’s QuietCare® products globally. As part of the agreement, the companies will utilize GE’s Global Research Center and its advanced work in clinical parameters and monitoring algorithms to drive innovation in the field of remote patient monitoring and diagnostics. GE Healthcare will also take a minority ownership stake in Living Independently. Financial terms were not disclosed.
Living Independently’s QuietCare is a behavioral remote patient monitoring system that uses wireless sensors to non-intrusively track the daily patterns of seniors’ activities. QuietCare alerts caregivers to behavioral changes that may signal potential health issues or emergency situations. QuietCare is used in leading assisted living facilities, senior communities, and private homes. GE Healthcare’s Clinical Systems business is a world-class provider of advanced technologies for patient monitoring. The strategic fit between the two businesses combined with expanded capabilities in product development and marketing will offer substantial long-term customer benefits.
Omar Ishrak, President and CEO of GE Healthcare’s Clinical Systems business commented, “This is consistent with GE’s strategy to invest in high growth businesses with global potential. Demographic changes such as the growing aging population present enormous healthcare challenges in the care of seniors and the management of chronic disease. The technologies developed by Living Independently are ideally placed to help meet these challenges. They are also a great fit with our vision of helping people to live longer, healthier and higher quality lives. We see enormous potential in senior healthcare monitoring, and the combined talent of the two companies offers the potential to accelerate the development of the business.”
Commenting on the agreement, John L. Lakian, Chairman and CEO, Living Independently Group, Inc. said, “This is a very exciting development in the future of home healthcare. Leveraging the resources of GE Healthcare will allow us to significantly accelerate the evolution and capabilities of our QuietCare system and new applications for remote patient monitoring. The Living Independently management team looks forward to working with GE Healthcare to realize the potential of this great business.”
About GE Healthcare
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform and treat disease, so their patients can live their lives to the fullest.
GE Healthcare’s broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases, and other conditions earlier. Our vision for the future is to enable a new "early health" model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a US$17 billion unit of General Electric Company (NYSE:GE). Worldwide, GE Healthcare employs more than 46,000 people 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 Living Independently Group, Inc. and QuietCare
New York-based Living Independently Group, Inc. is the creator of QuietCare, a revolutionary passive monitoring system that uses wireless sensors to unobtrusively track the daily patterns of seniors’ home activities, 24/7. QuietCare alerts the caregiver to atypical activity patterns and behavioral changes that may signal potential health issues or emergency situations. QuietCare is used in leading assisted living centers, senior communities, and private homes nationwide and in the United Kingdom. Additional information is available at www.quietcaresystems.com.
GE Healthcare – Americas
Tel +1 414-721-4013
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GE Healthcare – International
Dr. Val Jones
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Living Independently Group, Inc.
Allison & Partners
Tel +1 646-428-0610