General Electric Healthcare Seeks €100 Million From the Inveat Plan in Spain

General Electric (GE) Healthcare is seeking a place in the Ministry of Health’s Investment Plan for High-Tech Equipment (Inveat). The subsidiary of the U.S. conglomerate GE aspires to be awarded contracts under this plan for Spain for a total sum of more than €100 million, according to Luis Campo, CEO of GE Healthcare in Spain and Portugal.

On June 30th, 2021, the Interterritorial Council approved this plan, which is framed as investment 1 in component 18 of the Recovery, Transformation, and Resilience Plan approved by the Government on April 27, 2021. The Inveat Plan has a budget of €796.1 million. Of this, GE Healthcare is a candidate to be a successful bidder in a market worth €550 million. The company expects to win tenders “worth between 20% and 30% of the market,” Campo explained. The amount, therefore, is €110 million.

The main objective of the Inveat Plan is to increase the overall survival and quality of life of people by diagnosing diseases in the early stages, enabling rapid therapeutic intervention, with special attention to the pathologies with the greatest health impact, such as chronic diseases, oncological diseases, rare diseases, and neurological diseases.

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General Electric has recently been awarded a contract with the Vall d’Hebron Hospital in Barcelona

This is an aspiration that the company is pursuing in Spain. For the time being, one of the latest contracts that GE Healthcare has been awarded in Spanish healthcare is with the Generalitat de Catalunya and the Vall d’Hebron University Hospital.

The Catalan hospital will implement a new GE Healthcare PET-CT scanner for €2.1 million after the company was awarded a contract by the Catalan Health Service (Catsalut), as published on the Catalan government’s public procurement platform. The contract is to be executed over a period of seven months.

The incorporation of a new high-performance digital PET-CT scanner will make it possible to perform 6,500 more studies per year (at full operational capacity), which will lighten the waiting list for PET-CT tests, as well as the development of new emerging theragnostic lines.

General Electric Healthcare has a turnover of more than 200 million euros in Spain and Portugal

GE Healthcare is divided into four areas. The first is imaging (with X-ray equipment, for example), ultrasound, patient care solutions, and pharmaceuticals. The company’s annual turnover is around $17,725 million and the business in Spain and Portugal generated €250 million in 2021.

GE plans to IPO its medical products division in January 2023, thus fulfilling the roadmap set out in November 2021. The company has been immersed for years in a restructuring process that will culminate in a spin-off into three independent, listed companies.

One of the companies will be dedicated to medical products, another to aviation products, and the last will focus on power generation. As part of the process, the company has appointed a new board of directors for General Electric Healthcare.

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(Featured image by Bokskapet via Pixabay)

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