The company said the fund, announced Wednesday, will also be used to invest in companies developing innovative and unique business models and services.
Three broad areas will be targeted for investment: Healthcare information technology, including electronic medical records, clinical information systems, healthcare information exchanges and value-added data services; diagnostics, including imaging, home health, patient monitoring, molecular diagnostics, and pathology; and life sciences, including tools for research and development in biopharmaceuticals and stem cells and technologies for manufacturing biopharmaceuticals and vaccines.
The global fund will draw on capabilities from several GE businesses: GE Healthcare, GE Capital, and GE Global Research.
The fund is part of GE's $6 billion Healthymagination initiative for delivering better healthcare at lower cost.
GE unveiled several healthcare projects this month. This week, the company demonstrated a hand-held ultrasound device. And, earlier this month, the company received FDA approval on a device that provides clinicians with integrated data from patient monitoring systems and hospital information systems such as lab reports, X-rays, and e-medical records.
InformationWeek has published an in-depth report on e-health and the federal stimulus package. Download the report here (registration required).