GE launches $250 million healthcare tech fund
General Electric Co., as part of its $6 billion Healthymagination project, announced it will work more closely with drug maker Eli Lilly & Co. on cancer research and will launch a $250 million healthcare venture-capital fund. The $250 million "Healthymagination Fund" will invest in companies globally that are developing diagnostic, information-technology, and life-science technologies aligned with the Healthymagination campaign GE launched in May, GE officials announced. In a separate initiative, the GE Foundation pledged $25 million over three years in a set of grants to U.S. health centers that focus on primary care for underserved Americans.
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