The Medical Device Business Journal — Medical Device News & Articles | MassDevice
General Electric Co.’s (NYSE:GE) healthcare unit could be set for significant profit growth as countries like China spend more on healthcare and medical equipment.
GE Healthcare president John Dineen told analysts that his operation could see 10 percent profit growth for 2011 on revenue growth of 5 to 10 percent a year.
By Mary Vanac
An Aurora, Ohio, subsidiary of GE Healthcare is teaming with clinicians and researchers at Cincinnati Children’s Hospital Medical Center and Ohio State University to find better ways to take magnetic resonance images of children.
GEHC Coils Inc. — the former USA Instruments Inc. — will use a $1 million Ohio Third Frontier grant to work with the medical center and Ohio State’s Davis Heart and Lung Institute to design, build and validate MRI coils and surgical fixation devices for children.
GE Healthcare’s second-quarter revenues and profits showed continued growth during the three months ended June 30.
The medical equipment manufacturing unit of General Electric Co. (NYSE:GE) generated $4.1 billion in revenues during the quarter, a 3 percent increase over the previous year’s second quarter. Segment profit jumped 12 percent to $661 million, compared with $590 million during Q2 2009.
Some of the segment’s recent sales growth is attributable to the sharp decline in hospital spending in early 2009.
New regulations governing how healthcare providers can prove meaningful use of electronic medical records technology, a hallmark of President Barack Obama’s healthcare reform law, are winning praise from both EMR and healthcare providers.
To tap into the $27 billion being made available over the next decade to promote EMR adoption, healthcare providers must demonstrate meaningful use of an EMR system. Exactly what that entailed, however, wasn’t clear until the U.S. Dept. of Health & Human Services issued MU regulations yesterday.
GE Healthcare today unveiled a web-based electronic medical records solution.
The company’s Centricity Advance combines of EMR, practice management and patient portal solutions.
Using their own secure password, patients can log in from anywhere to schedule their appointments, request prescription refills or access billing statements, lab results and private messages from their clinicians, according to GE Healthcare.
GE Healthcare’s handheld ultrasound device, the Vscan, hit the market in the U.S., Europe, India and Canada today.
The device, which is roughly the size of a smart phone, won 510(k) clearance from the Food & Drug Administration, CE Mark approval in the European Union and a Medical Device License from Health Canada. GE ran a study of the device’s use in real-world setting before a wider release.
GE Healthcare continues to recover from a sharp drop in hospital spending earlier in 2009, posting its best numbers of the year during the fourth quarter, but still trailed year-over-year comparisons during the three months ended Dec. 31.
The medical-equipment manufacturing unit at General Electric Co. (NYSE:GE) generated $4.7 billion in revenues during the quarter, up nearly $900 million from the previous three-month period. Segment profit topped the previous quarter by $403 million, or 79.3 percent, climbing from $508 million during the quarter ended Sept. 30, 2009, to $911 million over the final three months of the year.
Startups launch and rumors swirl ahead of CES The International 2010 Consumer Electronics Show kicked off this week with a flurry of news, but come Saturday a portion of the CE industry’s attention will be focused on connected health devices and services at the Digital Health Summit co-located at the event. Wireless health companies have already begun making news in the New Year, including Wellcore, the Mayo Clinic, GE Healthcare and Intel and Apple. 
