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GE, Russian Technologies to form JV to modernize healthcare sector in Russia

General Electric (GE) and Russian firms INTER RAO UES and Russian Technologies have entered into a framework agreement to form joint ventures (JVs) to manufacture, assemble, sell and service high-tech medical diagnostic equipment, and modernize power generation in Russia.

The healthcare joint venture is expected to start with production of CT scanners, and then expand to other diagnostic equipment such as angiographs, MRI, ultrasound, digital X-ray, PET, gamma cameras and medical devices.

The joint venture may use the recently established joint GE Healthcare-Medical Technologies CT scanner assembly facility in Moscow.

Healthcare components initially will be sourced from GE, shifting later to local production by qualified Russian suppliers in keeping with GE’s requirements for quality, cost-effectiveness, design specifications and intellectual property protection.

Russian Technologies and INTER RAO UES JSC will each hold a 25% stake in the energy joint venture.

Russian Technologies will also hold a 50% stake in the healthcare joint venture.

GE will hold 50% of each joint venture.

GE will exercise operational control over the joint ventures, with joint decisions by the partners on strategic matters.