GE Healthcare to invest $50 mn in India on new products

March 17th, 2011 - 6:08 pm ICT by IANS  

Bangalore, March 17 (IANS) Global medical devices major GE Healthcare will invest $50 million (Rs.225 million) in India to roll out more diagnostic products for the growing domestic market, a senior official said Thursday.

“We will make an additional investment of $50 million in our India operations over the next 12-18 months to manufacture eight-ten medical devices that will be designed and custom-built for the local market,” GE Healthcare Systems chief executive Omar Ishrak told reporters here.

The $16-billion subsidiary of the US-based General Electric Company (GE) has eight research and manufacturing facilities across India where a range of high-tech medical equipment are designed and developed for the healthcare devices market.

“We plan to manufacture yearly 9-10 cost-effective medical devices for a range of diagnostic services, including anaesthesia, ventilation, CT (computed tomography) systems to provide an early treatment,” Ishrak said at the unveiling of its digital echocardiogram (ECG) system and cardiac ultrasound system.

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