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.
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
About the Agency for Science, Technology and Research (A*STAR)
The Agency for Science, Technology and Research (A*STAR) is Singapore’s lead public sector agency that fosters world-class scientific research and talent to drive economic growth and transform Singapore into a vibrant knowledge-based and innovation driven economy.
In line with its mission-oriented mandate, A*STAR spearheads research and development in fields that are essential to growing Singapore’s manufacturing sector and catalysing new growth industries. A*STAR supports these economic clusters by providing intellectual, human and industrial capital to its partners in industry.
A*STAR oversees 18 biomedical sciences and physical sciences and engineering research entities, located in Biopolis and Fusionopolis, as well as their vicinity. These two R&D hubs house a bustling and diverse community of local and international research scientists and engineers from A*STAR’s research entities as well as a growing number of corporate laboratories.
For more information on A*STAR, please visit www.a-star.edu.sg
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world.GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.
For our latest news, please visit http://newsroom.gehealthcare.com
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