Corporate Updates

Middle East health care boom gives boost to GE

The global medical giant GE Healthcare has hailed the Gulf, the Middle East and North Africa as its “hidden jewel”.
The ringing endorsement came as it unveiled in multibillion-dollar growth plans with the region bucking economic woes gripping Europe and North America.
GE Healthcare, a US$18 billion (Dh66.11bn) a year business, which sells medical technologies such as diagnostic equipment and imaging machines, is among the top revenue generators within the larger GE conglomerate.

This segment is increasingly being driven by demand from new or growing hospitals, as well as spending by government ministries of health located in the Gulf and the wider Middle East and North Africa (Mena) region.
Sales of GE’s health products in most countries around the world were performing better in 2010, said Mr Dineen. That changed last year, as concerns about the economy increased in the US, while crisis hit parts of the euro zone then spread to other countries.

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