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Wisconsin giant continues to dominate the health care IT market

Bank Of America Investment By Obi Igbokwe • 07/21/04

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Investment Opportunity LONDONA $14 billion unit of General Electric has just been ranked the number-one healthcare information technology company in the 11th Annual Healthcare Informatics 100 published in the June 2004 edition of Healthcare Informatics, where companies are ranked by their health care IT revenue.

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Banc Of America Investment Since 1993, each year Healthcare Informatics asks over the 1,700 companies registered in their database to submit their health care IT earnings for the previous year. The data is compared with other financial information from different sources to rank the top 100 companies.

care proposal, which, unlike Hillary Clintons, would not mandate that people have health insurance. Like other Democrats, he was pushing for a big government program to deal with what he saw as market failures in health care and to bring down the price of insurance. Once the program was in place, though, he trusted a market of individuals to make its own decisions; once the government had subsidized health insurance, he thought the vast majority of the uninsured would sign up.

Banking Investment GE Healthcare, formed in 2000, consists primarily of two business subunits: GE Healthcare Technologies and GE Healthcare Biosciences.

The number of interviewing clerks is projected to grow faster than average, reflecting growth in the health services industry. This industry will hire more admissions interviewers as health care facilities consolidate staff and expand the role of the admissions staff, and as an aging and growing population requires more visits to health care practitioners. In addition, increasing use of market research will create more jobs for interviewers to collect data. In the future, though, more market research is expected to be conducted over the Internet, thus reducing the need for telephone interviewers to make individual calls.

Investment Solution Strategic The GE Healthcare Technologies subunit, estimated to be worth $11 billion dollars, made its debut in the annual rankings in 2001 with a $1 billion dollar turnover. It came in at number four on the list.

Nationwide, the company will spend $6.2 billion to enhance and expand its Allover network nationwide over the next year. Earlier year, Cingular put into service 22 cell sites improving coverage in Winnebago, Bond, Sangamon, Lake, LaSalle and Cook counties in Illinois and in Columbia, Kenosha, Sheboygan, Walworth and Milwaukee counties in Wisconsin. As part of its 2005 investment, speed third generation (3G) HSDPA( High Speed Downlink Packet Access) 20 major markets this year. The company expects to offer its 3G services in most major markets by the end of 2006.

Investment Banking Services GE Healthcare Technologies then took the top position in the 2003 ranking with revenues of $1.8 billion dollars and in 2004 saw this increase to the tune of $2.7 billion dollars to keep the Wisconsin-based company on top of the list for the second year running.

Bank Investment The portfolio of GE Healthcare includes medical imaging and information technologies, patient monitoring systems and health care services. Since its inception, GE Healthcare has made huge inroads in the health care IT market.

Alternative Investment However, the year 2003 could be considered one of the busiest for the company as it made moves to solidify its leading position in the health care IT market by the key acquisitions of some of its competitors.

Online Investment Services In the summer of that year, GE Healthcare announced it had acquired Triple G Systems Group, a leading producer of laboratory information systems. This was quickly followed by the acquisition of French-based Thales Ultrasound Probes, a supplier of transducer for ultrasounds and Finnish-based Instrumentarium, a leading producer of anesthesia and critical care systems.

Accompany Essential Investment All these led to an increase in the portfolio of products and services GE Healthcare had to offer to the health care IT market. However the Wisconsin giant was not finished, as in the autumn of 2003 it announced plans to acquire Amersham.

Investment Company Amersham, based in the UK, is a leading producer of diagnostic imaging technology as well as drug research and development technology solutions. GE Healthcare finally announced in January 2004 that it had finally completed the acquisition of Amersham for $9.5 billion after receiving clearance from authorities in Europe and the United States.

Investment Management Solution By these acquisitions, GE has declared its intent to take the health care market by storm. Earlier in the year, GE chairman and chief executive officer, Jeffrey Immelt, was quoted as saying Health care is an unstoppable demographic. We want to make sure we are well-positioned for that.

Investment Management Services Immelt added, Weve invested to make it bigger, better and more substantial. This has seen GE Healthcare in the past decade expand its revenue from all its subunits from $4 billion to $15 billion and their employee numbers grow to 40,000, including 6,500 in Wisconsin with an estimated 2,000 more to come.

Guide Investment Stock With the moves from the U.S. government to get more health care organizations to adopt health care technology as a way of reducing medical errors and improving the efficiency in the delivery of services, GE Healthcare can look forward to more periods of sustained growth.

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Investment Stock Obi Igbokwe is the principal consultant for Biomedical Informatics Ltd in London and can be reached at igbokwe@biomedical-informatics.com.

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