The collaboration deepens GE’s engagements locally, signifies confidence in the Singapore’s medtech R&D capabilities
Singapore - The Agency for Science, Technology and Research (A*STAR) and GE Healthcare signed a five-year technology research and development collaboration agreement to co-develop the next generation of medical technologies. The signing also further anchors GE’s presence in Singapore, as it sees value in collaborating on local R&D to help sustain its pipeline of products and improve healthcare delivery around the world.
The collaboration will see A*STAR and GE Healthcare co-innovate technologies in three areas: patient monitoring, Computed Tomography (CT) and Magnetic Resonance Imaging (MRI). Patient monitoring is expected to trend upwards as more people gain access to health services via the internet through mobile devices. Better quality CT and MRI scanners will help clinicians prescribe improved treatment for patients, through enhanced accuracy in the diagnosis of illnesses, including neurological disorders, heart disease and cancer.
Dr Raj. Thampuran, Managing Director of A*STAR said, “This collaboration is testament to our expanding partnership with GE. It also signifies Singapore’s attractiveness for MedTech companies as this sector is growing briskly. From 2009 to 2013, manufacturing output of the MedTech sector grew from S$3.3 billion to S$5.1 billion. Over the same period, the sector’s manpower base grew from 8,400 to 10,400. A*STAR will continue to support this high growth sector through public-private sector partnership in R&D and innovation driven efforts.”
“As the healthcare environment changes globally, investment in developing medical innovations which are clinically and economically relevant is critical to meeting the world’s key healthcare challenges,” said Mike Barber, Vice President & Chief Engineer for GE Healthcare. “We’re thrilled to collaborate with A*STAR, one of the world’s finest research organisations, combining the engineering strength of both of our teams, to build the future of healthcare together.”
In the past decade, GE has invested 5% to 6% of its industrial revenue in R&D. GE has expanded its network of R&D centres to support its growing global industrial base -- by next year, two-thirds of the company’s revenues will come from outside the U.S. and 70 percent of its overall revenues will come from its industrial businesses. Today, GE employs more than 2,000 staff locally in Singapore for operations across all eight of GE’s core businesses.
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For media queries and clarifications, please contact:
Hiroshi Limmell
Assistant Head, Corporate Communications
Agency for Science, Technology and Research
Tel: +65 6826 6145
Email: Hiroshi_limmell@a-star.edu.sg
Mirielle Ranade
Communications Leader
GE Healthcare ASEAN
Tel: +65 9118 2214
Email: mirielle.ranade@ge.com
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