US-based multinational company General Electric (GE) has established a $250 million global healthcare-focused private equity fund.
The fund is a partnership between three GE units: GE Healthcare, a $17 billion division that provides medical technologies and services; GE Global Research, the company’s research wing; and GE Capital, which offers financial products and services.
Its investment committee will consist of senior leaders from the three units and GE investment professionals, a spokesman said, adding that more details would be announced shortly.
The GE Healthymagination Fund will invest between $2 million and $10 million in unlisted companies across three sectors: broad-based diagnostics, healthcare information technology and life sciences. It will invest opportunistically and does not have a defined lifespan.
In addition to capital, investee companies will be able to leverage GE’s technology knowhow and global footprint, Jeffrey Immelt, GE chairman and chief executive said in a statement.
GE is a conglomerate with interests in industries including appliances, aviation, consumer products, electrical distribution, energy, finance, healthcare, lighting, media and entertainment, oil and gas, rail, security and water.Â
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