This announcement follows the formation of an alliance between the two companies in 2009, and makes good business sense, in my judgment. Many of the players in the aging technology arena are small and inadequately capitalized for the long run. Intel and GE have the deep pockets to stay the course and become THE dominant players.
The new venture will be based in Sacramento, and be owned equally by Intel and GE. Intel will contribute its assistive and remote health technologies, and GE Healthcare will contribute QuietCare, a remote monitoring system. The new company is expected to be operational by year-end.