Tuesday, June 12, 2012

USA - GE, Microsoft joint venture ready to go


General Electric Co. and Microsoft Corp. said they completed the formation of Caradigm, the joint venture between the two companies' health IT businesses.

In a news release, GE and Microsoft said the joint venture, which will use some of the companies' existing health technology products, will also develop an "open healthcare intelligence platform and collaborative clinical applications focused on enabling better population health management."

The companies also announced that Caradigm had named Lauren Salata, a former CFO for Care Innovations, as chief financial officer and Michael Willingham as vice president of quality assurance and regulatory affairs. Willingham previously worked for Philips Healthcare.

Caradigm, led by former GE Healthcare executive Michael Simpson, is based in Bellevue, Wash.

"By forming Caradigm, we can offer innovative healthcare solutions, including an open platform and tools that enable software developers around the world to address the complexities of population health today," Simpson said in the release.

The venture was announced in December.

A spokeswoman said the joint venture has received regulatory approvals in the U.S., as well as in Canada, the European Union and China.

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