General Electric Co. and Intel Corp. said they have formed a joint venture to create products for patients with chronic diseases and for elderly people at home or in assisted living. GE will contribute its home health unit’s assets and Intel will contribute its digital health group’s assets, said the companies, which did not elaborate on the terms beyond saying the venture will be a 50-50 partnership. It will be led by Intel’s Louis Burns, vice president of the digital health group. The project is part of a GE-Intel collaboration begun last year, the companies said in a statement yesterday. The new company will focus on chronic disease management, independent living, and so-called assistive technologies, GE and Intel said.
