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Metro Chamber applauds member Intel for health care venture with GE

The announcement this week that Intel Corp. and General Electric Co. will create a joint venture health care company in the Sacramento area further confirms a Sacramento Metro Chamber study that found existing health care industries in the region will serve as a catalyst for new business development.

By uniting Intel’s Digital health Group and GE Healthcare’s Home Health division, the two companies will be innovating by creating new models of care delivery that promote healthy, independent living at home and in assisted living communities around the world, focusing on three major segments: chronic disease management, independent living and assistive technologies. Intel Corp has been a Metro Chamber member since 1984.

In initially employing 100 people, the join Intel-GE venture will contribute to a health care and biosciences cluster that supports more than 240,000 employees in the region, according to the Metro Chamber Health Care & Biosciences Economic Impact Report of 2009.

The impact report found that in 2007, the health care and biosciences industry cluster had a $33.5 billion economic impact in the Sacramento metro area. Businesses in this cluster directly employ more than 120,000 people and industry purchases and employee spending supports an additional 121,000 additional jobs.

“One out of five payroll dollars in the metro area is related to the health care and biosciences sector,” said Michael Faust, Sacramento Metro Chamber senior vice president for public policy and economic development. “With Intel and GE combining forces, the health care and biosciences sector is continuing to show strength and grow as it meets the needs of an aging population. We welcome this new venture to the region.”

Visit Health Care Impact Report PDF to view complete details of the Metro Chamber study.
 

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