GE Healthcare, Microsoft complete joint venture
Barrington-based General Electric Co.'s GE Healthcare subsidiary and Microsoft Corp. said they have completed the formation of Caradigm, a 50-50 joint venture aimed at enabling health systems and professionals to use real-time, organization-wide intelligence to improve health care quality and the patient experience.
Caradigm will develop and market an open health care intelligence platform and collaborative clinical applications focused on enabling better population health management to improve outcomes and the economics of health and wellness. Plans for the joint venture were first announced last December and the final agreement was completed on June 1.
The Caradigm board of directors and leadership team, announced in February, is composed of executives from both parent companies. Caradigm will be led by CEO Michael Simpson, who joins the company from GE Healthcare. In addition, Lauren Salata was named chief financial officer and Michael Willingham quality assurance and regulatory affairs executive for Caradigm. Salata previously served as the chief financial officer and compliance officer of Care Innovations, an Intel and GE company based in Roseville, Calif. Willingham joins Caradigm from Philips Healthcare in Bothell, Wash., where he served as senior director of quality and regulatory affairs.
"The combination of people and technology from GE Healthcare and Microsoft will allow us to drive the dramatic change that is needed in health care," Simpson said. "By forming Caradigm, we can offer innovative health care solutions, including an open platform and tools that enable software developers around the world to address the complexities of population health today."
Caradigm will be located at City Center Bellevue in Bellevue, Wash., with significant presence in Salt Lake City, Utah; Andover, Mass.; Chevy Chase, Md.; and other cities around the world.