The Hindu Business Line : GE Healthcare has no plans to hike stake in Medical Systems

"Partnership is the key strategy for successful growth of the joint venture, and the good partnership between the two companies has helped in strengthening our business through our respective expertises," said Mr William Castell, President and CEO of GE Healthcare.

On whether GE Healthcare intended to take a 100 per cent stake in the joint venture, Mr William only reaffirmed GE's commitment to the partnership.

Briefing mediapersons on the company's vision after the reorganisation of its medical imaging and healthcare services business in India, Mr William said the country would play a key role in GE's global business plans.

Stating that declining State spending and increasing cost of healthcare posed a challenge following a higher incidence of serious heart ailments and cancer, he said GE Healthcare had already taken steps by designing and developing products to provide transformational healthcare technologies that will reduce the cost of diagnostic equipment.

The centre expects to come out with a laptop-sized version of ultrasound equipment, which would cost less than $10,000 (around Rs 4.35 lakh). Already the company's Bangalore centre has been responsible for developing a black-and-white ultrasound machine for $6,000 (Rs 2.62 lakh). It used to cost over $1,00,000.

The $14-billion GE Healthcare South Asia, which is the new avatar of the company after its integration with GE Medical Systems South Asia, is the market leader in diagnostic imaging solutions, with a strong presence in India, Sri Lanka, Bhutan, Maldives and Nepal.

In 2004, the company earned a revenue of $367 million, with $240 million worth of exports.

GE Healthcare Technologies and GE Healthcare Bio Sciences (earlier known as Amersham Bio Sciences &Amersham Health) contribute critical components to GE's Medical Systems and Diagnostic Pharmaceuticals.

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