by John R. Fischer
, Senior Reporter | March 02, 2023
GE HealthCare and long-time partner Sinopharm are creating a new company for developing and commercializing “non-premium CT and general imaging ultrasound solutions” for Chinese providers, with the goal of competing with local, China-based companies.
The plans were announced in a filing
GE submitted on February 24 to the U.S. Securities and Exchange Commission.
Sinopharm is China’s state-run pharmaceutical manufacturer, and the parent company of China National Medical Device Co., which will work with GE HealthCare’s Chinese subsidiary to develop the new company.
GE HealthCare says the opening of the new entity aligns with its “business strategy to grow in emerging markets with a local approach tailored to customer needs.”
The relationship between GE HealthCare and Sinopharm dates back to 1991, when they formed Hangwei, a medical equipment manufacturer that also focused on CT and ultrasound technologies when it started, but has expanded to also produce MR scanners.
The new company’s development is subject to regulatory approvals in China.