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General Electric (NYSE: GE), through its healthcare IT business, and Microsoft (Nasdaq: MSFT) are planning to create a joint venture to offer a technology platform and clinical applications for healthcare organizations and professionals, the companies said in a statement.
Once formed, the new company will develop open and interoperable solutions aimed at helping use of real-time, systemwide intelligence to improve healthcare quality and patient experience.
The new company, which has yet to be named, will be headquartered near the Microsoft campus in Redmond, Washington, with presence in other cities around the world.
The new joint venture's launch is subject to customary conditions, including regulatory approval, and is expected in the first half of 2012.
The company will operate globally, offering interoperability platforms and application solutions targeting both healthcare providers and payers. Michael J Simpson, VP and general manager at GE Healthcare IT, will serve as the company's CEO.