NEW YORK -- General Electric Co expects to invest healthcare venture funds of $250 million into small companies developing new technology in the life sciences, information technology and diagnostic device markets over the next couple of years, its chief executive said on Wednesday.
"We're really looking in three spaces. One is life sciences, the second is healthcare IT and the third is broad-based diagnostic devices," Jeff Immelt, CEO of the largest U.S. conglomerate, said in an interview.
He said the healthcare investment push would be modeled on an approach GE has taken in the energy sector, in which it takes small stakes in new companies, rather than trying to buy them outright.
"What we're trying to do is embrace the venture community, try and do a series of early-stage and later-stage type investments," Immelt said. "We don't do everything inside our four walls."
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