University of Wisconsin, GE Healthcare Announce Anticipated $32.9 Milliion Investment Toward Next Frontier in Diagnostic Imaging and Radiology
The University of Wisconsin (UW) School of Medicine and Public Health, GE Healthcare and the Wisconsin Alumni Research Foundation (WARF) today announced new agreements focused on bringing that vision to life. The agreements celebrate 30+ years of research collaboration and technology invention with an anticipated $32.9 million GE investment in a state-of-the-art imaging research facility. The center will be located in the Wisconsin Institutes for Medical Research (WIMR), which is connected to the UW Health Sciences Learning Center and UW Hospital and Clinics.
The 10-year research agreement, under which GE research support is re-evaluated and committed annually, comprises GE Healthcare providing up to $32.9 million in anticipated research support, including cash funding, diagnostic imaging equipment and research personnel, to support its collaborative research program with UW’s existing Departments of Radiology and Medical Physics, which plans to expand its research activities into additional space in WIMR.
A new patent and technology agreement between GE Healthcare and WARF governs the intellectual property and licensing practices of the research agreement. According to WARF, during the past 11 years collaborations between GE and UW researchers have resulted in nearly 200 invention disclosures, more than 80 filed U.S. patents and numerous licensing agreements and technology improvements.
“Through our collaboration with GE Healthcare, we will have one of the few imaging centers in the world that brings together state-of-the-art diagnostic imaging systems with physicians, engineers and scientists focused on improving patient care and personalizing medicine, in an environment that is connected to an outstanding academic medical center at UW Hospital,” said Dr. Thomas Grist, chair of the department of radiology at the UW School of Medicine and Public Health.
“The center will also be a nexus for the development of new products for GE and other Wisconsin-based start-up companies that arose from research in the Departments of Radiology and Medical Physics, like Neuwave, Novellos, and Tomotherapy,” Grist added.
Tom Gentile, president and CEO, GE Healthcare Systems, GE Healthcare, said the partnership will have not only a global but a local impact. “GE Healthcare’s research collaboration with UW-Madison not only will yield significant economic benefits to the state of Wisconsin but it will enable us to partner to create protocols that will fundamentally change clinical care both here and around the world,” Gentile said. “I am proud of GE’s longstanding relationship with these important thought leaders in medical imaging.”
The agreement ushers in the next frontier of medical and imaging research, according to UW School of Medicine and Public Health Dean Robert Golden. “The long and productive partnership with GE Healthcare has yielded many advancements in imaging, and we look forward to the next era in research,” said Golden.
Additional research programs anticipated through the joint UW/GE Healthcare program include:
Delivering ultra-low computed tomography (CT) radiation dose imaging applications for the patient population while maintaining diagnostic quality for clinicians
More deeply linking hybrid imaging modalities like MRI and PET to both quantify and measure disease progression
Quantification of liver disease for early diagnosis and monitoring of treatment in patients with non-alcoholic fatty liver disease, the most common cause of liver disease
Development of new cardiovascular imaging techniques for non-invasive diagnosis of heart and vascular disease
While molecular imaging is the next frontier in radiology research, the UW and GE Healthcare have collaborated for more than 30 years and have developed imaging equipment and protocols in use all over the world. The partnership has developed groundbreaking MRI protocols for vascular imaging. Current research in CT is developing new methods to further reduce radiation doses for children and adults to levels lower than even the latest cutting-edge innovations. Low-dose CT protocols are already in place for pediatric imaging at American Family Children’s Hospital and adult imaging at UW Hospital and Clinics.
As part of a national GE Works series of events, today’s announcement highlights GE Healthcare’s continuing commitment to and impact on Wisconsin. With 6,500 employees across the Badger State, and an economic impact on Wisconsin of more than $3.8 billion annually according to a recent third party analysis, GE Healthcare alone generates more than $10.4 million in economic activity in-state, on average, every day, and helps support more than 21,000 jobs at both GE businesses and at 1,100 supplier sites across Wisconsin.
About the University of Wisconsin School of Medicine and Public Health
The University of Wisconsin School of Medicine and Public Health is recognized as an international, national and statewide leader in education, research and service. More than a century since its founding as the University of Wisconsin Medical School, it is transforming into the nation's first School of Medicine and Public Health, as it integrates the principles and power of traditional medical and public health approaches in all of its missions.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems. Our “healthymagination” vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality around the world. Headquartered in the United Kingdom, GE Healthcare is a unit of General Electric Company (GE). Worldwide, GE Healthcare employees are committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.
For our latest news, please visit http://newsroom.gehealthcare.com.
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Contact:
UW School of Medicine & Public Health
Toni Morrissey, +1-608-576-6456
tmorrissey@uwhealth.org
or
GE Healthcare
Marshall Poindexter, +1-262-853-2022
marshall.poindexter@ge.com