GE Healthcare acquires stake in Pilot Lite Ventures

GE Healthcare has expanded its consulting business by acquiring a 20 percent stake in the global venture management company Pilot Lite Ventures.

London-based Pilot Lite Ventures works internationally with major corporates to validate, launch and commercialise new ventures, stranded IP, products and services, with clients including international corporates and brands as well as the public sector.

The move will help the GE Healthcare Partners business to tap into a growing global market in unexploited healthcare and wellness research and development, orphaned IP and early-stage technology that is currently worth an estimated $28 billion.

In the healthcare sector, research projects are frequently started without being completed for various reasons, including strategy shifts or a lack of funds. Pilot Lite Ventures specialises in translating these early-stage innovations into commercially realisable products.

John Deverill, managing partner at GE Healthcare Partners, said: "Adding this unique solution set to our offering will enable us to better meet our clients' needs and to differentiate GE Healthcare Partners from traditional consultancy models."

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