|Tom Gentile (right), president and CEO of GE Healthcare Systems and Kim Chang-kyu, director general of cross-border investment policy at the Ministry of Trade, Industry and Energy, attend a news conference in Seoul, Wednesday.|
GE Healthcare, the world’s largest medical equipment developer, will invest 200 billion won ($189 million) to build an R&D center for mammography in Korea by 2022.
GE’s new Mammography Global Center of Excellence will serve as an R&D and supply hub to meet the growing global demand, with technology to be developed and manufactured in Korea. The demand for mammography in the global market is estimated at about $1 billion.
Mammography is a technique for making X-ray images of the breast. GE Healthcare developed the world’s first digital mammography in 2000.
GE Healthcare signed a memorandum of understanding with the Ministry of Trade, Industry and Energy; Gyeonggi Province; and Seongnam city, all of which will collaborate in the project.
The U.S. firm said the investment would contribute to the advancement of the medical device in Korea, nurture small- and medium-sized businesses and create more jobs. The company plans to have local businesses supply 90 percent of the parts.
“Korea’s world-class medical professionals, institutions and infrastructure, combined with excellent R&D capabilities, make this an exciting partnership,” said Tom Gentile, president and CEO of GE Healthcare Systems.
“We look forward to innovating technologies with speed while maintaining a competitive and reliable supplier base to meet the demands of the global market,” he added.
GE Healthcare is a subsidiary of General Electric Co. that focuses on developing advanced medical imaging technology and patient-monitoring systems.
By Cho Chung-un (firstname.lastname@example.org)