Today, Microsoft and General Electric Co., through its healthcare IT business, announced that they finalized the details on creating their 50-50 joint venture called Caradigm.
The new entity is aimed at offering health systems and professionals the possibility to use real-time, organization-wide intelligence to deliver better services for their patients. The final goal of the joint venture is to improve the outcomes and the economics of health and wellness.
Microsoft and GE Healthcare announced plans to create the joint venture in early December last year, and they finalized the agreement on June 1st, 2012.
The Caradigm board of directors and leadership team was unveiled in February this year, and it includes executives from both companies.
Caradigm will have Michael Simpson as its CEO, who served GE Healthcare before. Moreover, Lauren Salata has been appointed as the company’s chief financial officer, while Michael Willingham was selected to become the quality assurance and regulatory affairs executive.
Previously, Salata was the chief financial officer (CFO) and compliance officer of Care Innovations, while Willingham served as senior director of quality and regulatory affairs for Philips Healthcare.
“The combination of people and technology from GE Healthcare and Microsoft will allow us to drive the dramatic change that is needed in healthcare,” Simpson said.
“By forming Caradigm, we can offer innovative healthcare solutions, including an open platform and tools that enable software developers around the world to address the complexities of population health today.”
Microsoft and GE Healthcare also announced that Caradigm will be located at City Center Bellevue in Bellevue, Wash. However, the company will also have a significant presence in Salt Lake City, Utah; Andover, Mass.; Chevy Chase, Md.; and other cities around the world.
Via: Microsoft and GE Healthcare Complete Their Joint Venture Called Caradigm
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