GE sees big bets in government healthcare projects

GE, a diversified manufacturing and infrastructure multinational, is seeking government projects and orders to bolster its healthcare business in India.

“We see a range of opportunities in the Indian healthcare sector. Our aim to partner with the government is a move towards benefitting from these opportunities and at the same time offering affordable healthcare solutions,” said John Rice, vice chairman, GE.

Rice was in Mumbai to announce a public-private partnership (PPP) with the Maharashtra government to set up advanced diagnostic facilities across 22 government districts.

Its company – Wipro GE Healthcare – in partnership with Ensocare, a part of the $7 billion infrastructure player, will be pumping in Rs 150 crore to service the needs of the government hospitals in these districts.

This initiative is a part of the government agenda to modernise its healthcare facilities which have remained almost neglected in the last 10 years.

Banamali Agarwala, president and CEO of GE South East Asia, said the healthcare segment currently contributes up to 20% to the company’s total India revenues and the effort will be to maintain the double-digit growth rate of the vertical.

Rice said the company, with its partner Ensocare, is in negotiations with other state governments too to push up volumes of diagnostic equipment through similar PPP models.

While GE will supply the technology, Ensocare will chip in with funds to meet the orders, which it will recover within two years, said Vaibhav Maloo, chairman, Ensocare.

GE through various partnerships, is planning to maintain a healthy growth rate of 20% over the next few years.