GE Healthcare, a division of General Electric Company (GE - Analyst Report) recently entered into an agreement with HCA’s Summerville Medical to develop technology solutions that include data and analytics through the use of small sensor tags to track hand hygiene compliance.
GE Healthcare offers solutions that help clinicians in all settings of the hospital to provide life-saving care every day for patients. The new GE Healthcare AgileTrac RTLS (Real-Time Location System) solution creates detailed records of patients with accuracy and authenticity in its records of hand washing without affecting the existing work flow. This technology enables the hospital to tackle infections arising due to lack of hand hygiene. This technology also helps the health departments to track the records and make necessary changes while catering to the requirements of the patients by giving them the best facilities. The new AgileTrac RTLS technology collects up to 5,000 data points a day in comparison with 700 collected annually on a manual basis.
Nashville-based HCA is one of America’s first hospital companies. It manages about 163 hospitals and 110 freestanding surgery centres in 20 states and in England. HCA already has been a leader in preventing infections and this strategic collaboration is a win- win situation for both the companies. This new technology AgileTrac by GE healthcare is designed to arrange all the resources needed for a person's hospital stay, eliminating inefficiencies, thereby improving the patient's overall quality of health care. Thus, the technological expertise of GE and the leadership position of HCA are likely to be beneficial for both the companies in the near future.
General Electric is one of the most diversified technologies and financial service corporations in the world. GE Healthcare has expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery and biopharmaceutical manufacturing technologies.
In the last reported quarter, GE Healthcare segment reported revenue of $5,183 million, down 0.4% year over year. Recently in Mar, 2013, GE Healthcare submitted an application to amend its European Marketing Authorisation allowing the company to manufacture Optison 0.19 mg/ml dispersion for injection within its own facility. This injection is used for cardiovascular diseases and GE Healthcare aims to provide safe and effective diagnostic products on approval.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Honeywell International Inc (HON - Analyst Report), Macquarie Infrastructure Company LLC (MIC - Snapshot Report)) and Crane Co (CR - Analyst Report) with a Zacks Rank #2 (Buy).