Microsoft Corp. (NASDAQ: MSFT) and General Electric Co. (NYSE:GE) have announced a 50-50 joint venture to compete in the healthcare software industry. In a joint press release, the two companies said:
[T]he new company will develop and market an open, interoperable technology platform and innovative clinical applications focused on enabling better population health management to improve outcomes and the overall economics of health and wellness.
Each company will contribute existing software to the as-yet unnamed joint venture. Microsoft is contributing Amalga, an enterprise health intelligence platform; Vergence, a single sign-on and context management solution; and expreSSO, an enterprise single sign-on solution. GE’s Healthcare group is contributing eHealth, a Health Information Exchange, and Qualibria, a clinical knowledge application environment being developed in cooperation with Intermountain Healthcare (Salt Lake City, Utah) and Mayo Clinic.
The two companies will continue to develop and market healthcare software products independently as well. The current vice-president and general manager of GE’s Healthcare IT group will be the new venture’s CEO and the new company will have its headquarters in Redmond, Washington, with other offices in Salt Lake City and around the globe. The joint venture is expected to begin operations in the first half of 2012.
Top Gaining Stocks
Top Losing Stocks