GE Healthcare, the $18 billion healthcare technology division of GE, has announced the creation of a new business unit, Sustainable Healthcare Solutions (SHS), that will develop low-cost technologies and healthcare delivery solutions across multiple care settings. According to GE, the low-cost healthcare equipment sector is now estimated to be worth over $8 billion and growing significantly as developing countries continue to invest in effective, long-term healthcare solutions to improve the health of their populations.

GE reports that SHS will invest $300 million as part of a multiphase effort to develop a more robust affordable healthcare portfolio for customers. The unit will combine GE Healthcare’s operations in India, South Asia, Africa, and Southeast Asia. To help fulfill its goal to improve access to quality and affordable healthcare around the world, SHS will work with governments, clinicians, private operators, and non-governmental organizations to deliver value-based solutions aimed at improving outcomes for health systems and patients.

“Much of the world’s population is without adequate healthcare, and innovations that can create better patient outcomes in a sustainable way are urgently needed,” said John Flannery, president and CEO of GE Healthcare. “Many emerging economies are looking for experienced partners to help build skills, capacity and effective healthcare solutions for their patients.”

The company notes that its track record in developing innovations for emerging markets includes its handheld ultrasound device Vscan Access+ and Lullaby+ infant warmer, which are intended to improve outcomes in remote rural settings in maternal infant care, a focus area for many emerging markets. SHS will take a start-up model approach to rapidly test new ideas, products and services to maximize effectiveness for customers before scaling up, and will combine GE Healthcare’s capabilities and scale with the local expertise of its partners.

For more information about SHS, read the news release from GE Healthcare.