GE HealthCare is entering a joint venture with state-owned China National Medical Device Co., part of Chinese medical giant Sinopharm, to "develop, manufacture, and commercialize medical equipment to address the growing needs of China's healthcare market," according to a Feb. 24 Securities and Exchange Commission filing.
GE HealthCare has a current relationship with Sinopharm through Hangwei, a medical device manufacturing company founded in 1991. Initially, the partnership will focus on providing ultrasound technologies to rural primary care providers in China.
Chinese state regulators will still have to approve the deal.