GE Healthcare, the $17 billion (Dh62.3bn) healthcare business of General Electric Company (GE), has announced formation of a joint venture, GE El Seif Healthcare Arabia.
The new company, which has a 51:49 per cent ownership between GE and El Seif Development, will drive the sale of GE Healthcare's products in Saudi Arabia.
GE Healthcare has been operating in Saudi Arabia for more than 25 years and together with strategic partner El Seif Development Company it has been making the latest innovations available to healthcare providers in the Saudi Arabia.
GE El Seif Healthcare Arabia will bring GE Healthcare's extensive portfolio ranging from innovative diagnostic and imaging equipment, patient monitoring and data systems to network storage systems and software for healthcare professionals across Saudi Arabia.
It will also complement the earlier joint venture between GE and El Seif, GE El Seif Medical Services, demonstrating the commitment of both companies to transform the healthcare delivery in the Kingdom.
"GE believes in strong ties such as the one we have with our partner El Seif Development," said Richard Di Benedetto, President and CEO of GE Healthcare, International - EAGM region.