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Thursday, 19 May 2016
Ambitious GE Healthcare has great plans for India market
GE investing another $50 Billion in Indian Healthcare. Healthcare IT; software and R & D
will be the new focus areas. GE sees huge potential in India, as they have been growing at
CAGR of 30% in India by 2011. They plan to make India its manufacturing and R & D hub due
to commercial viability and huge consumer market.
GE dedicated the year 2012 as "At Work, for a Healtheir India". GE India has developed
products which lead to new innovation levels in healthcare. GE healthcare launched 6
products in 2013 which are made in India. These products have delivered results in India as
well as for 100 other countries across the world.
India is the first location after USA for GE to have large development centers. They have
their base in Bangalore, Hyderabad, Chennai and a recent addition is Pune. By employing
over 15000 employees. GE healthcare is focused on employing women manpower, and the
Pune plant will see 10% rise in female staff only.
GE had its presence in India since 1902, they always had a zeal to revolutionize the
healthcare industry, which is reflected in their actions as well. They had been quick in taking
decisions for R&D, expansion, business process re-engineeirng, continuous innovations. They
had been performing M & A (in-house and internationally), depending upon the situation
and industry demands.
They are leading their way in all segments of Healthcare weather: Life sciences, Equipment's,
Software and IT solutions, Bio pharmaceuticals, Patient monitoring and Molecular Imaging.
They are experienced and a trusted name for their healthcare products.Refurbishment, again another important segment, which GE has with them. As they are
aware of the huge investment capital involved purchase of Medical Equipment's their
Refurbishment segment called & ;Gold Seal & ; is attracting consumers from tire 2-3 cities of
India. These equipment's are processed in GE certified labs and undergo proper calibration
before bringing back to the market.
GE has started an initiative " In India, for India" in 2010 where they have ventilators, ECG,
Moving Cathlab, Sonograpers, USG Scanners and other infant care products which are
efficient and available at very low cost. This initiative of GE will change the shape of rural
India where GE is aiming to meet the rural requirement which is cost effective, minimum
power usage and portability.Their investment in R & D - India, is again a planned decision, as the manufacturing costsare lower and the consumer base is high. GE aims to have 100 new innovations in
healthcare only. Indian engineers and doctors have sound know-how, with the technology
and investment provided by GE. The results will be promising.
GE is fully aware of its strategic moves, therefore they have explored the massive consumer
base in untapped, potential markets outside the US. This has shown positive results as the
percentage increase is higher in the developing countries like: China - 23%, Latin America -
19%, ASEAN Region - 15% and India - 10% for years 2009 - 2013, in comparison to the US
and developed countries. Under this only they have made an exit from their low revenue
cycle products as well.
GE understands the India market well, therefore they have launched CT as customized
product for the Indian market, which is Super CT, this product costs one-tenth of its
premium CT Revolution segment. The actual cost of this product is about $2 Million a unit.
GE's Indian commitments are praiseworthy, they are perfectly lined up with their ambitious
plans for growth and innovation. The figures have multiplied many folds. It is undoublty a
win-win situation for GE partnering with India. GE is not excelling in Healthcare they are
leading their way in other industry segments as well.