GE Healthcare invests in cardiac diagnostics
This article was originally published in The Gray Sheet
Executive Summary
Firm's "Healthymagination Fund" enters into a $5 million strategic alliance with CardioDx to co-develop diagnostics for cardiovascular disease, GE announces May 13. CardioDx's flagship product, Corus CAD, a non-invasive genomic test to assess the potential for coronary artery disease, launched in the U.S. last fall (1"The Gray Sheet" Sept. 7, 2009). The deal marks the $250 million Healthymagination Fund's first investment since its formation in October 2009 (2"The Gray Sheet" Nov. 2, 2009). The equity fund targets three broad areas for investment: diagnostics, health care information technology and life sciences