Wipro GE Medical Systems to see more growth in future
Financial Express: Wipro GE Medical Systems Private Ltd. is a joint venture between GE Healthcare which has a 51 per cent stake and the remainder in the unit is held by Wipro Corporation, a unit of Wipro Ltd (NYSE: WIT), India’s third-largest software services exporter. GE Healthcare, a unit of General Electric Co. (NYSE: GE), expects its Indian operations to post ‘double-digit’ growth in revenues in coming years on the back of new launches. GE healthcare have its presence in many South East Asian countries. It has two unites in India and 90% of its 420 million $ came from India last year. Daniel Peters, president and chief executive of GE Healthcare’s medical diagnostics division, said India has raised its importance in terms of growth opportunities for business.
India is already known for the so called ‘Medical Tourism’ because you can have several kinds of surgeries done for a fraction of cost when compared to the west. This on top of the growing Health Care industry in India will be a major plus for this company. Down the road this might be a major growth factor for Wipro.