NORWALK, Conn. & MILWAUKEE–(BUSINESS WIRE)–GE Capital and GE
Healthcare, the financial services and healthcare divisions of General Electric
Company, announced today an investment in C8 MediSensors, Inc., a
privately held developer of non-invasive continuous glucose monitors for
diabetic patients. The investment is being made through the GE healthymagination Fund, an equity fund that makes
investments in highly promising healthcare technology companies.
The investment is aligned with GE Healthcares expanding
focus on disease management solutions that can improve healthcare globally, as
well as GEs broader healthymagination initiative, which focuses on reducing
cost, increasing patient access and improving quality in healthcare. Financial
terms of the transaction were not disclosed.
As many as 552 million people, or about 1 in 10 adults
worldwide, could have diabetes by 2030, according to a recent report by the
International Diabetes Federation. Additionally, as many as 183 million people
may be unaware that they have diabetes, according to the report, and the
highest proportion of cases is among those ages 40 to 59.
C8 MediSensors has combined their proprietary technology
with Raman spectroscopy to commercialize a non-invasive glucose monitor that
can improve the lives of diabetics by giving them a continuous view of their
glucose levels without the pain, inconvenience and high cost of invasive
“C8s technology platform presents great promise for
patients to avoid the discomfort of traditional invasive glucose monitoring,”
said GE Vice President and GE Healthcare Chief Technology Officer Mike Harsh.
“This investment aligns with our strategy to fund innovations focused on
reducing cost, increasing patient access and improving quality in healthcare.”
The investment in C8 reflects GE Healthcares continuing
interest in early-stage healthcare technologies. As an investor, GE Healthcare
will look for various ways to work with C8 that complement the strategic
objectives of its healthymagination initiative.
“C8 is a good strategic fit with GE Healthcare, given our
common focus on patient care concerns,” said Thierry Leclercq, General Manager
of GE Healthcares Life Care Solutions business. “GE Healthcares growing
patient care product portfolio encompasses a wide range of clinical tools and
solutions. We believe C8s non-invasive continuous glucose monitor gives both
clinicians and patients a far simpler way to monitor glucose levels. We look
forward to exploring ways to collaborate with the C8 team.”
The GE healthymagination Fund is part of GEs $6 billion
healthymagination initiative, a global commitment to deliver better healthcare
to more people at lower cost. The Fund targets three broad areas for
- Broad-based Diagnostics, including imaging, home health,
patient monitoring, molecular diagnostics, pathology, novel imaging agents and
other technologies for disease diagnosis
- Healthcare Information Technology, including electronic
medical records, clinical information systems, healthcare information exchanges
and value-added data services
- Life Sciences, including tools for drug discovery and
biomedical research, and technologies for manufacturing of biopharmaceuticals
The Fund draws on capabilities from across GE Healthcare, GE
Capital and GE Global Research, and has a global footprint. For further
information about the fund, visit www.healthymaginationfund.com.
“We are pleased to have GE, through its healthymagination
Fund, as new investors in C8 MediSensors.” said Fred Toney, Chief Financial
Officer of C8 MediSensors. “GEs knowledge and breadth of reach throughout the
healthcare vertical is a significant advantage to C8 MediSensors as we execute
our business plan.”
C8 MediSensors plans to introduce its new noninvasive
continuous glucose monitor in the European Community in 2012, pending CE Mark
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 (NYSE: 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.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter
About C8 MediSensors
C8 MediSensors is the leader in noninvasive continuous glucose monitoring.
Headquartered in San Jose, California, C8 MediSensors breakthrough
patent-protected technology gives diabetics a continuous view of their glucose
levels, without the pain, inconvenience and high cost of invasive continuous
Posted by Sean Fenske, Editor-in-Chief, MDT