GE Ventures, a part of General Electric Company GE, and health care firm Stanford Health Care recently announced the launch of Evidation Health, an organisation committed to improving health outcomes with evidence-based digital medicine. Shares of General Electric decreased marginally on Mar 6.
Evidation Health aims to focus on digital health product value with importance on outcome data and new approaches to predictive analytics. It aims to combine health outcome data innovatively, utilize resources cost effectively and improve the accuracy of clinical outcomes.
With this collaboration, both the companies aim to improve outcome data and ensure that the best products reach patients. The clinical interventions can be customized in ways that maximize benefit for patients and provide quality care. There is a growing demand for digital health companies and the new firm is likely to deliver solutions for complicated problems faced by patients much more effectively.
General Electric, the parent company of GE Ventures, is one of the largest and most diversified technology and financial services corporations in the world. Its product and service portfolio ranges from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth looking into include Swire Pacific Limited SWRAY carrying a Zacks Rank #1 (Strong Buy), and Danaher Corp DHR and Compass Diversified Holdings CODI carrying a Zacks Rank #2 (Buy).
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