SOURCE: General Electric (GE)
According to new medical reforms, 850 billion yuan will be invested into the primary care market and over 750 million Chinese people will join the primary care system. Under such a policy, international medical giants such as GE Healthcare and Medtronic Inc, used to providing high-end medical devices in large cities, are planning to sink their brand channels into the second and third-tier cities, and rural areas in China with their huge populations.
"Innovations for primary care" issued by GE Healthcare attracted a lot of attention at the 68th China International Medical Equipment Fair (CMEF) held from October 18 to October 21.
"The medical products of GE sold in small cities and rural China used to bring less than 20 percent of the total sales of GE in China. We hope that this proportion can increase to 50 percent in 3 to 5 years," said Duan Xiaoyin, president and CEO of GE Healthcare China.
It was reported that GE would issue over 40 new products in 3 years, 70 percent of which would be targeted at the primary care market.
"According to the actual conditions of China, GE even created new financing channels for small medical institutions with annual income from 5 to 12 million yuan to help them gain the capacity to buy our medical products," said Duan Xiaoying.
KEYWORDS: Technology. Innovation & Solutions, rural, China, GE healthcare, Health, medical, international, products, General Electric