GE Healthcare (GE) Signs LOI with LifeWatch AG

October 26, 2016 2:10 PM EDT

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General Electric (NYSE: GE) said on its website:

GE Healthcare today announced that it has signed a letter of intent with LifeWatch AG (SIX Swiss Exchange: LIFE), a leading developer and provider of medical solutions and remote diagnostic monitoring services in the digital health market.

The two companies intend to explore the possibility of a long-term strategic relationship in a few possible ventures including use of GE algorithms and exclusive distribution of LifeWatch’s monitoring services in the USA and possible other markets. The intended relationship is subject to the signing of a definitive cooperation agreement.

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