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 has its presence in many South East Asian countries. It has two units 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.” (source: Financial Express)
India is already known for its so called ‘Medical Tourism,’ because you can have several kinds of surgeries done for a fraction of their cost in 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 as well.