Fairfield-based General Electric Co. and California microchip maker Intel Corp. are building on their year-old partnership and forming a health care company.
The company will be formed from GE Healthcare’s Home Health division and Intel’s Digital Health Group. The intent is to develop products, services and technologies to make it easier for the aging to live at home. The company’s assets also will go toward assisted living communities.
The financial terms were not disclosed.
In April 2009, GE and Intel announced a $250 million joint investment in developing home health care devices, such as equipment allowing doctors to monitor patients remotely.
The new company will be based in California’s state capital, Sacramento.
Louis Burns, general manager of Intel’s Digital Health Group, will be CEO, while Omar Ishrak, president and CEO of GE Healthcare Systems, will be chairman.
