GE Healthcare Induces Sanford Savings - Analyst Blog

GE Healthcare, a division of General Electric Company GE, recently announced a 10-year comprehensive service agreement with Sanford Health to support its growth and expansion of healthcare capabilities. Sanford Health is the largest not-for-profit rural health care system in the U.S.

GE Healthcare will collaborate with Sanford to generate $44.6 million in operational savings during its contract tenure. GE Healthcare will deliver these operational savings by optimizing clinical assets and proper lifecycle planning. It will also enable Sanford to optimize workflow, utilize resources effectively, increase reporting productivity and improve the accuracy of clinical outcomes.
 
GE Healthcare will maintain operations for Sanford's entire network of 39 hospitals and 225 clinic locations as well as new centres. Moving forward, Sanford aims to continuously invest significantly over the next decade to expand care for varied healthcare needs. With this partnership, GE Healthcare will further aid Sanford to achieve its quality and safety outcome goals over the short as well as long term. GE Healthcare's main focus will be to integrate departments, standardize operations and ensure the right amount of technology for patient care.

GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and affordable healthcare facilities across the globe. General Electric, the parent company, is one of the most diversified technologies and financial service corporations in the world. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital.

General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Carlisle Companies Incorporated CSL, ITT Corporation. ITT and Noble Group Limited (NOBGY), each carrying a Zacks Rank #2 (Buy).