GE launches $250 million health care tech fund

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Associated Press

Posted on October 21, 2009 at 3:01 PM

NEW YORK (AP) — GE Healthcare says it plans to expand a cancer research partnership with Eli Lilly & Co. designed to target drugs more precisely and speed clinical trials

The unit of General Electric Co. also says it will set aside $250 million for investments in partnerships with health care information technology and diagnostics companies and says it bought MRI scanner maker ONI Medical Systems.

GE of Fairfield, Conn., says the fund is part of a $6 billion initiative to deliver cheaper, better, health care.

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