NEW YORK, May 26 (GenomeWeb News) - GE Healthcare will provide certain of its diagnostic tools to a large hospital and research center on the outskirts of New Delhi, India, according to a report in the India-based Business Standard.
GE "is not investing in cash" in the hospital, called Medicity, Jeffery Immelt, chairman and CEO of GE Worldwide, said in a statement to reporters attending the signing of the agreement, according to the online newswire. "We will provide the world-class technology for high-end diagnostic tools, clinical research and development and eco-friendly solutions."
Immelt said GE does not rule out equity partnership in Medicity, the Standard said.
GenomeWeb News could not immediately confirm the account.
In addition to research tools, the "memorandum of understanding" GE signed with Medicity project head Naresh Trehan said GE will provide the project with utility services, such as power generation and distribution and lighting and water treatment, the report said.
Trehan is the chief cardiothoracic and vascular surgeon at Escorts Heart Institute and
Medicity, based in Guragon, is planned to be a 43-acre, 1,800-bed hospital and research center that will cost approximately $250 million. The project is slated for completion in 2007.