GE and Intel are planning to create a company that focuses on assistive technologies, disease management and independent living.
The 50/50 joint venture will develop and market products technologies and services to promote healthy living in assisted living communities and independent living at home.
It follows a previous alliance between GE and Intel in 2009, which focused on bringing healthcare facilities to the elderly and people with chronic conditions.
The new company is expected to be operational by the end of 2010.
Intel president and CEO Paul Otellini said the new models of care delivery are required to address some of the largest issues facing society today, including the ageing population, increasing healthcare costs and the large number of people living with chronic conditions.
“We must rethink models of care that go beyond hospital and clinic visits, to home and community-based care models that allow for prevention, early detection, behaviour change and social support. The creation of this new company is aimed at accelerating just that,” Otellini said.
Financial terms of the venture have not been disclosed.