Microsoft and General Electric this morning launched their new health-care joint venture, Caradigm, after receiving the regulatory approval necessary to team up on the new company.
Caradigm will be based in downtown Bellevue, a short drive from the Microsoft headquarters, but it will also have a significant presence in Utah, Massachusetts and Maryland, the companies said in a news release announcing that they have finished forming the company. The plans were first unveiled last year. Caradigm is a combination of the words “care” and “paradigm.”
The new joint venture “will combine the power of an open technology platform and collaborative clinical applications to bring together disparate patient data and transform it into intelligence,” the companies promise on the newly launched Caradigm website. Products folded into the new company include Microsoft’s Amalga health-care data system and a variety of technologies from GE Healthcare.
The companies said previously that the venture would have about 750 employees to start.
Caradigm CEO Michael Simpson was previously with GE Healthcare. As part of the announcement today, Caradigm said it appointed Lauren Salata, formerly of California-based Care Innovations, as chief financial officer; and Michael Willingham, formerly of Philips Healthcare, as quality assurance and regulatory affairs executive.
Here’s a video from the new company with more details on its vision.