GE Healthcare Invested in QuietCare
GE made an unspecified amount of investment in New York-based QuietCare Systems in early October, 2008. At the same time, the two companies announced a technology collaboration and co-marketing arrangement. During the last two weeks, I have managed to locate executives from the two companies and here is what I learned.
-GE Healthcare will help market Quietcare’s Living Independently product line and services under the brand “Quietcare by GE Healthcare.” David Stern, Quietcare’s Chief Professional Officer, told me that the backing by the GE brand could alleviate concerns from potential buyers about -Quietcare solution’s quality and the company’s longevity—two legitimate concerns for a start-up company like Quietcare.
-Quietcare will work with GE’s technology development center to refine existing technologies and bring out new innovations. GE has numerous patents in the healthcare technology field that are under developed. By combining the two companies’ expertise and fill each other’s knowledge gaps, both hope to translate such knowledge into commercialized products faster and more efficient.
-GE is serious about home care and senior independent living market and keen on behavioral tracking technologies, according to David.
Both parties are extremely close-lipped about the structure and value of the equity investment. But I would assume that the investment is contingent upon achieving several milestones down the road, tied to either sales goals or new solution launches.
By any measure, it is an extremely positive development for Quietcare and the senior care industry. An industry heavyweight’s support does not translate directly into faster market adoption, however, as marketing is still tricky and technology is still less recognized by its targeted audience yet. In other words, even for GE, the learning curve could be steep.
-GE Healthcare will help market Quietcare’s Living Independently product line and services under the brand “Quietcare by GE Healthcare.” David Stern, Quietcare’s Chief Professional Officer, told me that the backing by the GE brand could alleviate concerns from potential buyers about -Quietcare solution’s quality and the company’s longevity—two legitimate concerns for a start-up company like Quietcare.
-Quietcare will work with GE’s technology development center to refine existing technologies and bring out new innovations. GE has numerous patents in the healthcare technology field that are under developed. By combining the two companies’ expertise and fill each other’s knowledge gaps, both hope to translate such knowledge into commercialized products faster and more efficient.
-GE is serious about home care and senior independent living market and keen on behavioral tracking technologies, according to David.
Both parties are extremely close-lipped about the structure and value of the equity investment. But I would assume that the investment is contingent upon achieving several milestones down the road, tied to either sales goals or new solution launches.
By any measure, it is an extremely positive development for Quietcare and the senior care industry. An industry heavyweight’s support does not translate directly into faster market adoption, however, as marketing is still tricky and technology is still less recognized by its targeted audience yet. In other words, even for GE, the learning curve could be steep.
Labels: digital health, GE Healthcare, Quietcare
posted by Harry Wang at 4:55 PM
1 Comments:
GE Quietcare is a helpful device. Another helpful device I know that helps secure the safety of seniors is the Just5 cell phone. I also like this device as it combines the features of basic cell phone and PERS. I can easily update the condition of my mother using this and she can easily call for help when needed with this device as well. This is also very affordable—both the unit and the Company’s offered calling plans. It’s great to know that there are now several devices that are geared to keep the elderly safe and secured.
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