GE HealthCare Technologies Inc. on Friday said it agreed to form a long-term joint venture with a unit of China National Pharmaceutical Group Co., the state-owned group known as Sinopharm, to develop, manufacture and commercialize medical equipment to address the growing needs of China's healthcare market.
Chicago-based GE HealthCare said the venture initially plans to provide non-premium CT and general imaging ultrasound solutions for primary care and rural health, adding that the scope may be expanded as the venture develops.
GE HealthCare, which completed its separation from former parent General Electric Co. in January, already has a joint-venture relationship with Sinopharm through GE Hangwei Medical Systems, a medical equipment maker formed by General Electric and Sinopharm in 1991.
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