In a major R&D expansion initiative, GE Healthcare has invested $75 million to set up an advanced research and development centre. Of the $75 million, $25 million is allocated exclusively for a laboratory which is a hospital simulated facility.
The R&D centre which will be commissioned in mid-April this year is located at the John Welch Technology Centre at the EPIP Area Whitefield in Bangalore. Current Laboratory of 15000 sq ft is being expanded to 40,000 sq ft. Lab for more innovations from India. This is the largest medical engineering lab for GE Healthcare, and the first of its kind in the world, John Dineen, chief executive officer, GE Healthcare said.
The lab will be equipped with four MRIs, 2 CTSc, surgical systems among others. It is a hospital simulated environment which will help engineers carry out the advanced research studies before the product reaches the medical experts. Currently, GE Healthcare carries out almost 75 per cent of the manufacture from India. There is immense potential in this market and we are only looking to increase the business, stated CEO, GE Healthcare.
The new facility will have a capacity for 2000 engineers of which 1,000 are working exclusively for the healthcare sector.
The company is to double sales from India in three years from the current $500 million turnover and target a one to 20 per cent growth. As part of its inorganic growth strategy, it is open for acquisitions.
India presents a huge opportunity. This market has the two-fold challenge of affordability and accessibility. The country needs both cost-effective solutions for addressing the rural areas and high-end technology on par with developed world for urban areas. "Our focus is to bring technology to the bedside of the patient and to fit the pocket size of the patient," stated V Raja, president & CEO, GE Healthcare South Asia.
"Our approach 'In India, for India' is gaining momentum. We have tested the market and innovated solutions that are suitable for this market. We have rolled out a series of such products in India which include the first Digital X-ray System, a series of baby monitoring systems, low cost ultrasound systems, maternal infant care solutions. LOGIQ 100, a portable ultrasound system is the best selling In India for India products with about 15, 000 units sold worldwide," informed Ashish Shah, general manager, Global Technology, GE Healthcare.
"We are seeing some disruptive and innovative thinking from our India R&D centre, which is helping us to cater to not only the Indian market, but take these technologies to developed markets like US & UK. The Mac 400 was been developed for the Indian market is now launched in US last week as Mac 800 with a mobile like keyboard and texting tools facility. We bring them at the same quality, as it is any developed lab and go through rigorous FDA audits," stated Omar Ishrak, president & chief executive officer, GE Healthcare Systems.