GE Healthcare, CardioDx Form Strategic Alliance
Other financial terms were not disclosed. CardioDx is a US-based company engaged in cardiovascular genomic diagnostics.
Building on the alliance, the GE Healthymagination Fund, a new equity fund that makes investments in highly promising healthcare technology companies, has invested $5m in CardioDx as part of a Series D round that the fund is leading.
The alliance between the two companies aligns with GE’s healthymagination initiative which focuses on reducing cost, increasing access and improving quality in healthcare. This marks the first investment for the Healthymagination Fund.
The strategic fit between the two businesses combined with expanded capabilities in product research and development will accelerate the development of new high-value integrated technologies for the diagnosis and care of patients with suspected heart disease. This alliance also reflects GE Healthcare’s continuing interest in opportunities to combine in vivo and in vitro diagnostic technologies to improve patient care.
Pascale Witz, president and CEO of medical diagnostics business at GE Healthcare, said: “The alliance with CardioDx gives us access to new and exciting technologies in high-value diagnostics, which will complement and strengthen our existing offerings. The combined talent of the two businesses offers the potential to accelerate the development of new technologies that will ultimately improve patient care.”
David Levison, president and CEO of CardioDx, said: “This is a very exciting development in the future of cardiovascular genomic diagnostics. The strategic alliance with GE Healthcare and the funding from GE’s Healthymagination Fund will allow us to benefit from the business and scientific expertise of a world-class healthcare company, which has a great heritage in diagnostic technology.”
How far this alliance help the companies to improve patient care?
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